African Leaders Unite to Support an Ambitious IDA20 Replenishment

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Tuesday, July 06, 2021 / 02:46 PM / By World Bank Group / Header Image Credit: Twitter; @WBG_IDA

 

The replenishment will support a resilient recovery from the COVID-19 crisis and help the continent continue its economic transformation

 

His Excellency President Alassane Ouattara of Cote d'Ivoire and the World Bank Group will host a high-level meeting on July 15, 2021, with African leaders to highlight the importance of an ambitious and robust 20th replenishment of the International Development Association (IDA20). The replenishment will support a resilient recovery from the COVID-19 crisis and help the continent continue its economic transformation.

 

As African countries grapple with the devastating impacts of the COVID-19 pandemic, continued support from the World Bank, particularly from IDA, is critical to help them meet their financing needs, which were already high before the pandemic.

 

This high-level meeting follows the call from African leaders, during the African economies financing Summit in Paris last May, asking for increased support to build back better and greener from the crisis. The discussions will help identify key priorities for financing in Africa, and champion a strong policy and financing package for an ambitious IDA20 replenishment. Africa is IDA's biggest beneficiary with 39 countries and has made significant headway in improving development indicators in the six decades partnership with the World Bank.


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