ONE Welcomes Global Pledges to World Bank’s Poverty-Fighting Arm

WASHINGTON (December 17, 2013) – The ONE Campaign welcomes the combined $52b pledge by donor nations to the International Development Association (IDA), the poverty fighting instrument of the World Bank that supports development in the world’s 82 poorest countries.

According to the World Bank, “This financing is expected to provide, for example, electricity for an estimated 15-20 million people, life-saving vaccines for 200 million children, microfinance loans for more than 1 million women, and basic health services for 65 million people. Some 32 million people will benefit from access to clean water and another 5.6 million from better sanitation facilities.”

ONE Global Policy Director Edith Jibunoh said:

“As we enter the final year of the current Millennium Development Goals and plan for the post-2015 development agenda, these commitments to the IDA come at a significant time in the fight against global extreme poverty. Donor nations have recognized how important it is to support the institutions at the forefront of the fight against poverty and should be applauded for their collective support of the IDA.

The IDA plays a particularly crucial role in the fight against poverty as nearly 8 out of 10 of the world’s poorest people live in countries that receive IDA funding. Over the years, the IDA has helped hundreds of millions of people escape poverty by addressing issues like health, nutrition and electricity. By strengthening the linkage between resources and results, the IDA has demonstrated value for money and successfully leveraged additional resources from the private sector.

Despite the positive growth trends on the continent, extreme poverty continues to persist in many sub-Saharan countries, with levels in fragile countries of particular concern. We therefore welcome the IDA pledge to apply these resources to addressing poverty in fragile states and conflict zones, as well as to promoting inclusive growth and gender equality.”

The International Development Association (IDA) is the division of the World Bank Group (WBG) that supports low income countries through concessional financing and technical assistance. The IDA is one of the largest development financiers for the world’s 82 poorest countries, 40 of which are in Africa. Since its inception in 1960, IDA loans and grants have totaled USD 255 billion, supporting programs and projects in 108 countries.