Targets fragility, refugees, climate change and other pressing challenges
YOGYAKARTA, INDONESIA, December 15, 2016— A coalition of more than 60 donor and borrower governments agreed today to ratchet up the fight against extreme poverty with a record $75 billion commitment for the International Development Association (IDA), the World Bank’s fund for the poorest countries.
“This is a pivotal step in the movement to end extreme poverty,” World Bank Group President Jim Yong Kim said. “The commitments made by our partners, combined with IDA’s innovations to crowd in the private sector and raise funds from capital markets, will transform the development trajectory of the world’s poorest countries. We are grateful for our partners’ trust in IDA’s ability to deliver results.”