The International Development Association (IDA) helps the world¡¯s poorest countries to reduce poverty by providing grants, and zero to low-interest loans to boost economic growth, lessen inequality, and improve living conditions. Here are 10 things you should know:
1. Half a billion people¡ªor two-thirds of the extreme poor¡ªlive in the 74 countries that IDA supports. In these countries, , and the single largest donor fund source for basic social services like education and health.
2. IDA has quickly stepped up to help the poorest countries cope with COVID-19. Since the crisis started, IDA has to save lives, protect jobs, and support inclusive rebuilding.
3. IDA is supporting vaccine roll-out and strengthening health systems to help countries recover from COVID-19 and better prepare for future pandemics. Nearly 70 countries have received IDA financing for vaccines, training health professionals, and hospital equipment.
4. IDA is helping those most affected by . The world¡¯s poorest countries account for less than one-tenth of emissions but are most impacted by climate change and natural disasters. In fiscal year 2021 alone, 60 percent of IDA¡¯s climate financing¡ªwent to adaptation and resilience, and IDA helped 62 countries prioritize disaster risk reduction.
5. IDA is responding to the by meeting the immediate needs of vulnerable people, while also solving longer-term causes of hunger like climate, conflict, animal diseases and pests, and economic shocks. This includes helping farmers increase crop yields through better weather data and drought-resistant crops.
6. IDA grants and support are helping countries as they face . IDA is working to help countries enhance debt tra