The Government of Croatia has announced a significant increase in its financial commitment to the International Development Association (IDA) for the 21st replenishment cycle, known as IDA21. The country will enhance its pledge by 115%, demonstrating its dedication to supporting low-income countries in their efforts toward sustainable development and poverty reduction.
This announcement comes ahead of the final IDA21 replenishment meeting, which is scheduled for December 5-6, 2024, in Seoul, South Korea. The increased pledge highlights Croatia's recognition of the urgent need for concessional financing as global crises continue to disproportionately affect vulnerable populations.
Marko Primorac, Deputy Prime Minister and Minister of Finance of Croatia, stated, “In these challenging times, it is imperative that we stand in solidarity with the world’s most disadvantaged communities. Our increased commitment to IDA21 is a testament to Croatia’s unwavering support for international development and our belief in the transformative power of collective action.”
The IDA provides financial resources and expertise to some of the world's poorest countries, helping them address pressing issues such as climate change, food security, and health crises. With this enhanced pledge, Croatia aims to contribute significantly to global efforts aimed at alleviating poverty and fostering resilience among low-income nations.
Stipe Župan, State Secretary at the Ministry of Finance of Croatia, added that this substantial increase reflects not only their commitment to global development but also aligns with national priorities promoting sustainable economic growth and social equity. He encouraged other nations to follow suit by increasing their contributions to IDA21.
“Croatia's significant increase in its IDA21 pledge is a powerful demonstration of leadership in global solidarity,” said Akihiko Nishio, Vice President for Development Finance at the World Bank. “As we face unprecedented challenges, such commitments are vital for ensuring that the world’s poorest countries can access the resources they need to recover and thrive.”
The IDA21 replenishment process is crucial for ensuring that low-income countries have access to necessary resources needed to navigate various challenges they face. Croatia’s early pledge serves as a call to action for other donor countries to enhance their commitments and support the vital work carried out by the IDA.
For media inquiries: In Washington contact Meriem Gray at mgray@worlbank.org; In Zagreb contact Sanja Back at sanja.bach@mfin.hr.
More information can be found on [IDA's website](https://ida.worldbank.org/en/replenishments/road-to-IDA21), Facebook page or Twitter account @WBG_IDA.