Tokyo, September 13, 2022 -- The Government of Japan and the World Bank co-hosted the launch of the 20th Replenishment Period of the International Development Association (IDA20) with representatives from donor and recipient countries in person. Low-income countries are facing multiple crises such as climate change, COVID-19, conflict, inflation, rising debt and food insecurity, hitting the poorest particularly hard. The $93 billion IDA20 package will help these countries overcome the crisis and rebuild their economies.

"The World Bank and its partners are committed to supporting poor countries in their crisis response efforts," said David Malpass, President of the World Bank Group. "We thank Japan for its leadership in the IDA20 replenishment process by advocating for a significant replenishment of IDA funding and for hosting this launch; We are also grateful to all our partners for supporting IDA as a unified, efficient platform to deliver maximum development outcomes."

"The historic agreement from IDA20 demonstrates our firm will to support developing countries in achieving their development goals," said Japanese Finance Minister Shunichi Suzuki. "As the international community faces multiple crises, we firmly believe that cooperation and sharing of knowledge and experience is the wisdom of history, and with the joint efforts of the World Bank Group and the international community, IDA will play an even more important role."

IDA20 will help countries meet their challenges by:

Prioritising investments in human capital, such as education, health and nutrition, and Covid vaccination;

Strengthening food system resilience and providing emergency support. IDA20 will support agriculture and social protection systems to increase food production and mitigate the impact of rising food prices on people.

Deepen support for crisis preparedness to prepare for future crises such as pandemics, financial shocks and natural disasters;

Strengthen action on climate change, including supporting climate adaptation, protecting biodiversity, and helping countries move to low-emission development paths and ensuring the fairness of the transition;

Increased and flexible support for countries facing fragile and conflict situations;

Implement debt policies that help promote sustainable lending practices in IDA countries.

The IDA20 cycle runs from 1 July 2022 to 30 June 2025 with the core theme "Building Back Better from Crisis: Towards a Green, resilient and Inclusive future". IDA20 will also continue to work closely with countries to achieve long-term development goals such as gender equality and job creation, while maintaining its emphasis on improving governance and strengthening institutions to bridge the digital divide for economic transformation and social inclusion.

The $93 billion package includes a total of $23.5 billion in contributions from 52 high - and middle-income donors, as well as capital market financing, borrower repayments and the Bank's own financing.