IDA18, the donor meetings for replenishing the resources of the International Development Association IDA (a part of the World Bank) were completed on 15 December in Yogyakarta, Indonesia.
The aim of the IDA is the eradication of extreme poverty and the more balanced distribution of well-being. The IDA lends money on concessional terms as well as providing aid to the poorest developing countries.
Funding for IDA is provided by 47 states. This round of a record $75 Billion is the largest in the 56-year history of the IDA, as now with the new way of leveraging the IDA’s capital it is possible to attract significantly more funding.
The biggest funders continue to be the United States, the United Kingdom and Japan. Finland contributes 105 million euros to the funding. The emphasis in the funding round is on investments in the poorest countries to enable growth, opportunities and social adaptability. Spearhead themes are gender equality, environmentally sustainable development, the economic growth of developing countries and employment, the strengthening of administration and institutions and especially support for fragile and conflict states.