The World Bank announced today that the International Development Association (IDA) will release a record amount of 100 billion. dollars to finance the world’s poorest countries.

This announcement comes after the end of a fundraising process, which allowed the collection of 23.7 billion. dollars over the course of a year, a representative of the World Bank pointed out.

This is a small increase compared to 23.5 billion. dollars that the donor countries had pledged to offer three years ago.

The World Bank will be able to use this money to borrow from the money markets, which will allow it to quadruple this amount, thereby freeing up $100 billion in new loans and grants, up from $93 billion. dollars in 2021.

“This funding will be used to support 78 countries most in need,” World Bank President Ajay Banga said in a statement.

IDA helps the 78 poorest countries in the world, mainly African states, by offering them grants and loans with low or no interest.

IDA is funded solely by contributions from World Bank member states, with donors meeting every three years to replenish these resources.

The World Bank described the latest fundraising as a “historic success” and said it was a “vote of confidence and support from donors and clients”.

Replenishment of IDA resources is critical to the World Bank’s operations. The largest donations come from the US, Japan and many European countries, including Britain, Germany and France.

Moreover, many of the 35 countries that once benefited from IDA support — such as China, Turkey and South Korea — are now “generous” donors.

These resources are intended to finance plans and programs to strengthen economic development, to reduce poverty and to improve the lives of the poorest in various areas, such as access to education, health or adaptation to climate change .