WASHINGTON – The ONE Campaign released the following statement on the US announcement of a $4 billion pledge to the World Bank’s International Development Association (IDA).

“A pledge to IDA is an investment that creates a clear pathway for economic growth and healthier lives and makes a huge impact on the African continent,” said Ndidi Okonkwo Nwuneli, CEO of ONE.

“With many countries facing multiple shocks, now is a critical moment to support IDA and help make the world safer and more stable. I commend the United States for leading the way in making a strong pledge towards the IDA21 replenishment, every $1 contribution from the US catalyzes approximately $27 in additional resources. A strong pledge from the US allows emerging economies to expand access to electricity, upgrade education and health infrastructure, and invest in driving growth.

“We hope that other countries will also step up and ensure that IDA is able to deliver impact.”

Background:

• The ONE Campaign’s research has shown that money flowing out of developing countries is outpacing aid and investment coming in.

• The US is one of the leading financial contributors to the International Development Association (IDA), which is the arm of the World Bank that serves the world’s poorest countries by providing zero- to low-interest loans and grants.
• Of the 78 countries that benefit from IDA, 40 are in Africa – and in the most recent fiscal year, Africa received 71% of total commitments.
• Because funds are depleted over time, IDA is replenished every three years. The upcoming replenishment, IDA21, will run from 2025-2028.
• Every $1 contribution from the US to the IDA20 replenishment (2022-2025) catalyzes approximately $27 in additional resources. And since 1960, a total of 36 countries have graduated from being supported by IDA to becoming IDA donors.
• As a result of IDA commitments, between 2012 and 2023, 1.18 billion people received health services, 117 million people gained access to improved water services, and 92 million people obtained new or improved electricity services.

About The ONE Campaign

ONE is a global, nonpartisan organization advocating for the investments needed to create economic opportunities and healthier lives in Africa. Our trusted advocacy uses hard-hitting data, grassroots activism, political engagement, and strategic partnerships to influence decision-makers. Learn more at www.one.org.