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

flag 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. flag Established in 1960, IDA offers concessional lending terms with zero to low interest rates and repayment periods of 30 to 40 years. flag The latest replenishment, IDA20, secured a $93 billion package for 2022-2025.

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