International Development Association
The International Development Association (IDA) is one of the world’s largest and most effective platforms for tackling extreme poverty. IDA is part of the World Bank, which helps 74 of the world’s poorest countries and is their main source of funding for social services. IDA aims to reduce poverty by providing grants, interest-free loans, and policy advice to programs that promote growth, increase resilience, and improve the lives of the world’s poor. Over the past 60 years, IDA has invested approximately $ 422 billion in 114 countries. Representatives of IDA partners and lender countries meet every three years to replenish IDA resources and review IDA policies. The surcharge includes contributions from IDA donors, contributions from the World Bank and funds raised in capital markets. Since its inception in 1960, IDA has received 19 regular updates. The current round, called IDA19, was completed for $ 82 billion in December 2019, of which $ 23.5 billion came from IDA donors. Pressed by the COVID-19 crisis, the World Bank has allocated nearly half of IDA19’s resources to meet the financial needs of its first financial period (July 2020 – July 2021). In February 2021, representatives of IDA lenders and lender countries agreed that the IDA20 cycle would be shortened by one year and the IDA19 cycle by two years. IDA19 now covers July 2020 – June 2022 and IDA20 covers July 2022 – June 2025.