UK: the largest donor to support the fighting global poverty
UK is the largest donor to support the fighting global poverty
Douglas Alexander, International Development Secretary, has announced the UK?s largest ever contribution in support of the World Bank?s efforts to reduce poverty around the globe.
The UK?s contribution to the World Bank?s International Development Association (IDA) will be, over the next three years, of £2.134 billion (3bn euro): it will provide millions of people in the developing world with education, healthcare, clean water and access to energy, as well as boosting their economic opportunities.
The UK contribution is 49% higher than during the last round of IDA funding in 2005.
IDA, after the final meeting in Berlin, will provide about £20bn (28bn euro) in funding to the world?s poorest countries in 2008-2011, over half of which will go to Sub-Saharan Africa.
In the last six years, IDA helped provide at least 25 million people with access to water and sanitation and since the mid-1990s IDA funds have helped triple the number of girls in secondary schools in Bangladesh and rebuild over 8,500 miles (13,000 km) of roads in Ethiopia.
Douglas Alexander, International Development Secretary said:
"The UK plays a leading role in fighting world poverty and our contribution to IDA demonstrates our commitment to increase aid to the world?s poorest countries.
"The UK?s resources will be used to improve health services and environmental standards, increase access to food, education and water, and strengthen infrastructure and government administrations in 81 countries, including many fragile states?.
Bob Zoellick, President of the World Bank, said:
"I warmly welcome this announcement and applaud the UK?s leadership on international development issues. These funds will help the Bank to provide more support to the poorest countries, particularly those in Africa. This very substantial pledge will also help assist the Bank to play a stronger role in helping developing countries deal with the impact of climate change. I am grateful to the UK for its commitment to IDA and to aid effectiveness ? an objective to which we at the World Bank Group are equally committed"
The UK?s funding announcement follows nine months of negotiations on IDA 15. The negotiations have reassured the UK that the Bank will use its contribution to provide more funding and staff in Fragile States, to increase its focus on climate change and to continue to improve and monitor its performance on conditionality including the use of economic policy conditions.
Notes:
The International Development Association (IDA) is part of the World Bank. It helps the world?s poorest countries reduce poverty by providing interest-free loans and some grants for programmes aimed at boosting economic growth and improving living conditions. IDA collects fund from 81 countries: the funds help these countries deal with the complex challenges they face in striving to meet the Millennium Development Goals. More on the fifteenth replenishment of IDA resources (IDA15) can be found on the World Bank?s website.
