Poland Boosts Support to the World Bank’s International Development Association, Fund for Low-Income Countries

100 % Increase in Pledge to IDA21

WASHINGTON/WARSAW, 7 November 2024-The Government of Poland has pledged to increase its contribution to the World Bank's IDA by 100% compared to its previous IDA contributions, demonstrating its continued dedication to international development.

IDA, or the International Development Association, is the World Bank's fund for 78 low-income countries. Projects funded by IDA boost economic growth, build resilience, and improve people's lives across the countries it supports. Poland's IDA21 unprecedented pledge of 37 million euro comes at a time of polycrisis, which is taking a disproportionate toll on low-income countries. A new World Bank report shows the world's 26 poorest countries, home to 40% of the most poverty-stricken people, are more in debt than at any time since 2006 and increasingly vulnerable to natural disasters and other shocks.

"Our increased pledge to IDA reflects a belief in the power of collective action for sustainable development and resilience," said Andrzej Domański, Minister of Finance of Poland. "Low-income countries urgently need support at this turbulent time. We are committed to working with the international community to address these pressing issues and support the most vulnerable populations."

"One of the goals of our increased contribution to IDA, the largest aid institution in the world, is to address the sources of fragility and vulnerabilities in the world's poorest countries. These vulnerabilities prevent the citizens from realizing their potential, often resulting in migration and brain drain. In the coming decades, low-income countries will need to create hundreds of millions of jobs to address the needs and ambitions of their populations. With the help of IDA, these countries can reverse the vicious cycle of poverty and create opportunities for their citizens at home," said Paweł Karbownik, Deputy Minister of Finance of Poland. "IDA's operation is based on vast experience and the ability to implement repeatable and large-scale projects. We will propose the adoption of a resolution of the Council of Ministers on support for the 21st Supplement of IDA funds in the amount of EUR 37.54 million, transferred over 9 years, starting from 2026."

"This increase from Poland is a powerful statement of solidarity and commitment to our collective futures and to global progress," said Akihiko Nishio, Vice President for Development Finance at the World Bank. "This support will drive IDA projects that enable and mobilize private capital, build economic stability, foster climate resilience, and work to lift millions out of poverty."

IDA supports a range of development activities, like primary education, basic health services, clean water and sanitation, agriculture, business climate improvements, infrastructure, and institutional reforms. These interventions pave the way toward equality, economic growth, job creation, higher incomes, and better living conditions. Replenished every three years, the current round of IDA negotiations is scheduled to conclude in December 2024.

For media inquiries, please contact:

In Washington: Meriem Gray, [email protected], +1-202-294-9606

In Warsaw: Krzysztof Bastian, [email protected]

For more information, please visit: https://ida.worldbank.org/en/replenishments/road-to-IDA21

Facebook: https://www.facebook.com/IDA.WBG/

X (Twitter): @WBG_IDA