UK pledge to increase contribution to IDA replenishment – Bond response
Today, Thursday 28 November, the UK government announced an increased pledge of 40% to the World Bank International Development Association (IDA) 21st replenishment round, which equates to £1.98bn over 3 years.
From 2024 to 2026 the UK committed £1.4 billion. This 40% increase (£0.56bn) takes the total to £1.96bn over three years. However, this still falls far short of the £3 billion per year from 2020-23.
In reaction to the announcement, Gideon Rabinowitz, Director of Policy and Advocacy at Bond, the UK network for NGOs, said:
We welcome the UK government’s commitment to significantly increase its contribution to the World Bank’s IDA 21st replenishment. This decision demonstrates vital leadership ahead of the upcoming pledging conference and signals the UK’s recognition of IDA’s pivotal role in addressing global poverty and supporting lower-income countries.
To ensure that delivering on this pledge doesn’t lead to damaging trade offs in other areas of UK aid, the government should commit to increasing the UK aid budget beyond 0.5% of GNI and set a clear path toward a scaled return to 0.7% of GNI in the upcoming Spending Review.
ENDS.
Notes for editors
- In December 2021, the UK pledged £1,414 million to the 20th Replenishment of the World Bank’s International Development Association (IDA20) which is a reduction of 54% compared to the previous pledge to the 19th Replenishment.
- Read Bond’s reaction to the UK Autumn budget and what it means for UK aid.
- Read Bond’s briefing on the state of UK aid in 2024.
- Bond is the UK network for organisations working in international development. Bond unites and supports a diverse network of over 350 civil society organisations from across the UK, and allies to help eradicate global poverty, inequality and injustice.
- For further information or interviews please contact Jess Salter at [email protected] or call 07392972411.
