Slovenia has announced a significant increase in its contribution to the World Bank's International Development Association (IDA), boosting it by 30%. This move is part of Slovenia's ongoing commitment to support some of the world's poorest countries. The announcement was made during a formal ceremony attended by Klemen Boštjančič, Minister of Finance of Slovenia, and Akihiko Nishio, World Bank Vice President for Development Finance.
Klemen Boštjančič commented on the increased contribution, stating, “This 30% increase in our IDA contribution isn't just about numbers—it's about recognizing that our prosperity is intertwined with global prosperity.” He emphasized that this investment reflects Slovenia’s belief in providing every nation with the opportunity to realize its potential.
Akihiko Nishio also acknowledged Slovenia’s continued support for global development efforts. “The World Bank has long been a trusted partner to Slovenia and values the country's continued leadership in supporting global development efforts through institutions like IDA,” he said. Nishio noted that this increase shows exceptional leadership in international development and will aid low-income countries in addressing their most pressing challenges.
Established in 1960, IDA collaborates with 78 low-income countries using grants and zero to low-interest loans aimed at promoting economic development and increasing productivity. These initiatives are designed to improve living standards worldwide. IDA undergoes replenishment every three years, with the latest round concluding in December 2024. The funding supports various developmental activities such as water security, digital economy enhancements, social assistance reforms, early childhood education, healthcare improvements, fiscal effectiveness initiatives, competitiveness boosts, and green growth strategies.
For further information or media inquiries:
In Washington: Noreyana Fernando can be reached at +1607-279-7973 or via email at sfernando5@worldbank.org.
In Ljubljana: Contact Tina Hojnik at Tina.Hojnik@gov.si or call +386 70 559 024.
More details can be found on their website: https://ida.worldbank.org/en/replenishments/road-to-IDA21
Facebook page: https://www.facebook.com/IDA.WBG/
Twitter handle: @WBG_IDA