The Government of Poland has announced a significant increase in its contribution to the World Bank's International Development Association (IDA), doubling its previous commitment. This decision underscores Poland's dedication to supporting international development, particularly in low-income countries.
The IDA is the World Bank’s fund aimed at assisting 78 low-income nations by promoting economic growth, resilience, and improving living conditions. Poland's pledge of 37 million euros for IDA21 comes amid challenging global circumstances that heavily impact these vulnerable countries. A recent World Bank report highlights that the world's poorest nations are facing unprecedented levels of debt and are increasingly susceptible to natural disasters and other crises.
"Our increased pledge to IDA reflects a belief in the power of collective action for sustainable development and resilience," stated Andrzej Domański, Minister of Finance of Poland. "Low-income countries urgently need support at this turbulent time. We are committed to working with the international community to address these pressing issues and support the most vulnerable populations."
Paweł Karbownik, Deputy Minister of Finance of Poland, emphasized that one objective of their increased contribution is to tackle sources of fragility in impoverished regions. He noted that these vulnerabilities hinder citizens from reaching their potential, often leading to migration and brain drain. "In the coming decades, low-income countries will need to create hundreds of millions of jobs to address the needs and ambitions of their populations," he said. "With the help of IDA, these countries can reverse the vicious cycle of poverty and create opportunities for their citizens at home."
Akihiko Nishio, Vice President for Development Finance at the World Bank, remarked on Poland's increased support: "This increase from Poland is a powerful statement of solidarity and commitment to our collective futures and to global progress." He added that this assistance would bolster IDA projects aimed at mobilizing private capital, enhancing economic stability, fostering climate resilience, and alleviating poverty.
IDA funds various development activities such as primary education, health services, clean water access, agriculture improvements, infrastructure projects, and institutional reforms. These efforts aim toward achieving equality, economic growth, job creation, higher incomes, and improved living standards.
The current round of IDA negotiations is set to conclude in December 2024.
For media inquiries:
- In Washington: Meriem Gray (mgray@worlbank.org)
- In Warsaw: Krzysztof Bastian (kbastian@worldbank.org)
More information can be found on [IDA's website](https://ida.worldbank.org/en/replenishments/road-to-IDA21).