On December 6, 2024, the World Bank announced that it has received pledges totaling a record $100 billion aimed at supporting low-interest loans and grants to the world's poorest nations. This funding is directed towards the International Development Association (IDA), which requires replenishment every few years.
The recent pledges from donor countries, amounting to $24 billion, were revealed earlier this week, contributing to the overall financial commitment. The IDA plays a crucial role in providing financial assistance to developing countries facing significant economic challenges.