Donor countries have pledged US$100 billion to the World Bank's fund for the poorest nations, aiding them in overcoming issues like debt, climate disasters, inflation, and conflict. The announcement was made at a conference in Seoul, surpassing the previous US$93 billion pledge but falling short of the US$120 billion goal due to currency exchange rates.
Donor countries have pledged a record US$100 billion three-year replenishment of the World Bank 's fund for the poorest nations, providing a vital lifeline for their struggles against crushing debts, climate disasters, inflation, and conflict. The pledge was announced at a conference in Seoul on Friday, exceeding the previous US$93 billion IDA replenishment made in December 2021.
The total includes contributions from countries like Norway, Britain, and Spain, which increased their pledges by 50%, 40%, and 20% respectively. However, the US$120 billion goal set by some developing countries was not met, partly due to the strength of the dollar
World Bank IDA Replenishment Donor Countries Low-Income Countries Financial Aid
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