WASHINGTON, Dec 16 — The World Bank’s fund to help the world’s poorest nations got a US$93 billion injection of cash to help scale up aid for pandemic recovery and other programs, the institution announced Wednesday.
The package includes US$23.5 billion of contributions from 48 high- and middle-income countries as well as financing raised in the capital markets and the World Bank’s own contributions, according to a statement. The IDA fund is replenished every three years, but because of the pandemic, the latest cash injection was pulled forward by a year and will be in place through June 2025.
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