ONE Calls for Strong Support of World Bank’s “Fund for the Poorest”

Washington, DC – Today, anti-poverty advocacy group, ONE, urged world leaders to pledge strong support for the International Development Association (IDA), known as the World Bank’s “Fund for the Poorest,”  when they meet in Brussels December 14th -15th for IDA’s next three years of funding.

IDA is one of the largest development financers in the world’s 79 poorest countries, 39 of which are in Africa. This round of funding will determine for the next three years the ability of the poorest countries to mobilize the financing needed to meet the Millennium Development Goals by 2015. IDA’s grants and interest-free, long-term loans support health and education, infrastructure and agriculture, and economic and institutional development in the world’s poorest countries. With strong commitments, coming from both internal and external donor resources, IDA estimates it can:

• immunize 200 million more children
• extend health services to over 30 million people
• give access to improved water sources to 80 million more people
• help build more than 49,500 miles of roads
• train and recruit over 2 million more teachers.

“IDA’s work gives those living on less than $1.25 a day the foundation to forge a sustainable path out of poverty,” said ONE U.S. Executive Director Sheila Nix. “Whether building a reliable road system or bolstering a government’s ability to provide free primary education, IDA is a vital partner. Its financial needs during this upcoming replenishment meeting must not be ignored if the international community is serious about achieving the Millennium Development Goals by 2015.”

“IDA is the glue to coordinate donor efforts and ensure the systems and capacity are in place to build on results and sustain long term progress toward achieving the MDGs,” continued Nix.  “While fiscal times are tough, we can’t forget the nuts and bolts of development.  IDA is one of the most effective tools in getting countries on track for economic growth and poverty-reduction. ”

By providing a platform for donor coordination, IDA helps to maximize scarce resources. The World Bank estimates that every $1 invested in IDA leverages, on average, another $2 in additional donor support.  The allocation of IDA financing is based on a country’s performance implementing policies to promote economic growth and poverty-reduction.

During the past decade, IDA financing:

• immunized 310 million children;
• provided access to water and sanitation for 177 million people;
• helped more than 47 million people receive health services;
• provided nutrition supplements to 98 million children;
• and brought better education to more than 100 million children each year.