February 2005: The conclusion of the recent negotiations on the 14th replenishment of the International Development Association (IDA) has brought about a 25 percent increase in resources over the IDA13 replenishment.
About $34 billion in resources will be made available to development assistance over the next three years, of which approximately $18 billion will appear […]
February 2005: The conclusion of the recent negotiations on the 14th replenishment of the International Development Association (IDA) has brought about a 25 percent increase in resources over the IDA13 replenishment.
About $34 billion in resources will be made available to development assistance over the next three years, of which approximately $18 billion will appear from new contributions. While this represents the largest increase in IDA resources in many years, the amount still falls short of the 30 percent target supported by donors at the Deputies meeting held in Athens in December 2004. Some donors are looking into the possibility of additional pledges to meet the 30 percent target.
The new resources will be distributed under the IDA14 policy framework for poverty reduction agreed in Athens. This framework is underpinned by several measures, including: a system for allocating grants based on countries’ debt vulnerability; a strong focus on economic growth, private sector investment and infrastructure development; a system based on development performance; increased transparency and accountability; and measures to strengthen coordination and harmonization among development partners.
The IDA is the part of the World Bank that seek to help poor countries reduce poverty by providing interest-free loans and some grants for programmes aimed at boosting economic growth.
Links to further information
Donors agree to substantial increase in new money for poorest countries, World Bank press release, 22 February 2005
Chair’s summary