The bottom of the world Bank Aid to the poorest nations received an injection of 93,000 million dollars to increase aid for the recovery of the pandemic and other programs, announced the institution on Wednesday.
“Today’s generous commitment from our partners is a critical step in supporting poor countries in their efforts to recover from the Covid-19 crisis,” said World Bank President David Malpass.
It is the largest replacement that the International Development Association (IDA), which provides grants to 74 countries, mostly African, reported the Washington-based development lender.
The package includes $ 23.5 billion in contributions from 48 high- and middle-income countries, as well as financing obtained in capital markets and contributions from the World Bank itself, according to a statement.
The IDA fund is replenished every three years, but due to the pandemic, the last cash injection was brought forward one year and will run until June 2025.
The World Bank said the funds will help countries better prepare for future difficulties, including pandemics, financial crises and natural disasters.
While the funds will help countries around the world, resources are increasingly going to Africa, which will receive around 70% of the funding.
Reference-www.eleconomista.com.mx