Press Conference by the World Bank Group

The world today needs collective development interventions more than ever as we tackle major challenges, such as the looming and potentially catastrophic famine in Africa. Thankfully, the global community has a very important tool in its arsenal to help take on crisis—the International Development Association, IDA. In December of last year, the international community came together for the global good with a $75 billion commitment for IDA for the next three years, financing life-saving and life-changing operations in regions all over the world. The replenishment includes financing innovations—going to the capital markets for the first time—and pushes the envelope on innovative investments in the world’s poorest countries.