Statement from Global Citizen re. Outcomes of the IDA21 Replenishment

Global Citizen applauds the countries that have contributed to the replenishment of the World Bank’s International Development Association (IDA) fund, particularly Denmark, Norway, Spain and the UK, who have each delivered on their promises and increased contributions by around 40 percent. 

While the replenishment’s outcome of a $100B financial package for IDA is a victory for global investments in health, education, and development, it is far short of the $120 billion that over 100 African and global leaders called for in the Abidjan Accord during the Economic Development Assembly in Côte d’Ivoire in October. 

We celebrate this moment, but more must be done; debt burdens in low-income countries are unsustainable, particularly across the African continent where, according to research from Bridgewater Associates, in the coming decades 25 percent of the world’s working-age population will live.

We remain committed to collaborating with the World Bank to drive progress towards our shared goal of ending extreme poverty.