President Biden pledges $4 billion to the World Bank’s IDA for low-income countries over three years.

US President Joe Biden announced a $4 billion pledge over three years to replenish the World Bank's International Development Association (IDA), which aids 78 low-income countries with grants and low-interest loans. Established in 1960, IDA offers concessional lending terms with zero to low interest rates and repayment periods of 30 to 40 years. The latest replenishment, IDA20, secured a $93 billion package for 2022-2025.

November 20, 2024
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