Australia’s contributions to the World Bank’s International Development Association (IDA)
The International Development Association (IDA) is one of the World Bank’s five development financing agencies. IDA focuses on the World’s poorest countries and provides them with low or interest-free loans, or grants, to help them meet their development needs.
IDA funds work in sectors such as health, education and agriculture. It also funds the development and maintenance of transport, energy, water and information communication infrastructure.
IDA works in 77 countries globally, including seven countries in the Pacific. (You can see a map of where IDA works here.)
Most of IDA’s funding comes from contributions from developed country governments. Every three years donors meet at IDA replenishment rounds and commit to providing funding.
In the most recent IDA replenishment round (the eighteenth or IDA18, for the years 2017-2020) the funding pool reached a record US$75 billion, an increase of more than 40% on the previous record of US$52 billion raised for the period 2014-2016. 48 countries contributed to this replenishment round, and for the first time further resources will be secured by borrowing in international capital markets.
Australia’s total contribution to IDA18 is $774 million. This includes all our debt relief contributions, as well as fresh funding for new IDA projects of $640 million.
You can read more about IDA here.