The World Bank’s International Development Association (IDA) remains the most important source of concessional development financing for Africa and other low- and middle-income countries (LMICs). It is a critical lifeline to fuel sustainable development and resilience for many African States, especially in the face of mounting challenges such as debt distress, food insecurity, climate change, and interlinked health system stresses.

While we commend the donor countries for a modest increase in committed IDA21 pledges — mobilizing US$100 billion over the next three years — the commitments fall short of the ambition, as well as what’s needed to meaningfully tackle the many challenges of our time.

As the world grapples with a post-COVID-19 landscape and its significant and long-term economic, social, and political ramifications, serious financing gaps remain, and all countries must contribute to the solution. IDA21 is progress to build on. During this year’s replenishment, 17 donor countries increased their contributions by more than 25% with some pledging more than 40%. But collectively, we can and must up ambition and follow through to achieve the promise of the Sustainable Development Goals and uphold global commitment to people, planet, and shared prosperity.

We urge both donor countries and LMIC partners to continue the momentum from IDA21. Collectively, we must advance constructive engagements to scale-up public finance and mobilize sufficient resources to respond to the health, climate, and broader resilience needs of the most vulnerable countries. We look ahead to opportunities surrounding the 2025 International Conference on Financing for Development and African Development Fund replenishment as critical moments for leaders to come together to drive meaningful solutions, rooted in equity for all.