The United Kingdom has increased its contribution to the World Bank's International Development Association (IDA) by 40%, raising it from 1.414 billion GBP in IDA20 to 1.98 billion GBP in IDA21. This decision demonstrates the UK's dedication to aiding low-income countries in achieving sustainable growth, poverty reduction, and resilience against crises.
The IDA is a significant source of multilateral development finance for 78 low-income nations, offering concessional financing for projects that support economic growth and improve living conditions. The UK's announcement comes at a time when global challenges are impacting these nations disproportionately.
Ajay Banga, President of the World Bank Group, commented on the UK's increased contribution: “This contribution from the UK is significant in both its generosity and the impact it will have. Investing in IDA’s long-term, inclusive and proven development solutions are some of the best defenses we have against conflict, fragility and climate shocks. A stronger IDA secures a more prosperous, stable and resilient future for low-income countries, putting them on a path to economic growth.”
The funding supports various development activities such as climate adaptation, resilience-building amid conflict and fragility, primary education, basic health services, gender equality, clean water and sanitation, agriculture infrastructure projects as well as digital development and sustainable debt management.
For media inquiries:
In Washington: Meriem Gray at mgray@worlbank.org or +1202-294-9606
In London: Oliver Mann at omann@worldbankgroup.org
Further information can be found at [World Bank's IDA page](https://ida.worldbank.org/en/replenishments/road-to-IDA21).