WB raises support for poorest countries
(VOVWORLD) - The World Bank has announced a 93 billion USD replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future.
The financing brings together 23.5 billion USD of contributions from 48 high- and middle-income countries with financing raised in the capital markets, repayments, and the World Bank’s own contributions.
World Bank Group President David Malpass. Said the generous commitment is a critical step toward supporting poor countries in their efforts to recover from the COVID-19 crisis.