The Republic of Senegal and the World Bank Group will host a high-level meeting on July 7, 2022, with African leaders to leverage the powerful voice of African countries in implementing the IDA20 program whose financing and policy package was successfully endorsed by the Heads of State a year earlier at a similar summit in Abidjan.
The cycle for the twentieth replenishment of the International Development Association (IDA20) will run from July 1, 2022, to June 30, 2025.
The meeting, hosted by H.E President Macky Sall of Senegal, will call on leaders and implementers to fully tap into IDA20, underpinned by World Bank global expertise and country presence, to deliver lasting results to African citizens.
It will further position the World Bank, and specifically IDA, at the heart of the region’s efforts to respond and recover from multiple crises.
The Heads of State will underscore their commitment to a robust recovery for Africa and identify priority transformational initiatives that would allow Africa to “leap forward” with dedicated support from IDA.
Africa has the most number of countries (39 of 74) benefiting from IDA20 whose theme is Building Back Better from the Crisis: Towards a Green, Resilient, and Inclusive Future.
African countries have been hit hard by multiple global crises including climate change, the COVID-19 pandemic, growing levels of insecurity, and more recently the crisis in Ukraine.
The World Bank Group stands ready to partner with Governments as they implement policies for building back better and for accelerating the development and economic transformation of the continent.
The International Development Association (IDA) is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries.
IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world. Since 1960, IDA has provided about $458 billion for investments in 114 countries.
As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity in the world’s poorest countries.
