“Sweden is now providing a record contribution of SEK 9.2 billion to the International Development Association (IDA) when the needs are greatest, and more than 100 million people have fallen into extreme poverty during the pandemic,” says Minister for International Development Cooperation Matilda Ernkrans.

Sweden is the eighth largest donor to the IDA and has played a significant role in shaping the work programme for the coming three years. More than one third of the funds will be dedicated to climate measures, and the priority will be on enhancing crisis preparedness and resilience ahead of future crises, such as climate-related disasters, hunger and pandemics. This replenishment also ensures that the World Bank can remain a central actor in helping developing countries meet the long-terms goals of the 2030 Agenda and the Paris Agreement.

“The financial support through the IDA is key to addressing the many parallel global crises that are hitting the world’s poorest the hardest, including climate change, war and conflicts, increased burden of debt and the global food security crisis,” says Ms Ernkrans.