International Development - Press Conference | United Nations

Senior Managing Director for Partnerships and Development Policy for the World Bank Group, Axel van Trotsenburg highlighted the impacts of the International Development Association (IDA21) replenishment and looked ahead at 2025.

Addressing the press today (16 Jan) in New York, Axel van Trotsenburg said, “What is clear when we look at, we see a clear challenge, particularly for many low-income countries, is the high debt burden, the weak investment, climate and productivity, gross challenges, as well as the trade links.”

He then said, “Just to go back to IDA21 is, we were hit very much by the exchange rate because many countries, their currencies had evaluated vis-a-vis the US dollar. So, just to give you a sense, we, despite the fact that, the in local currency, the contributions actually increased by 13 percent, the ultimate contribution dollars was about stable.”

He continued, “Now, in terms of, of amount, IDA17 was about 50-52 billion, today 100, so, basically in a fairly short period of time over the last, 10-12 years, basically it doubled.”

He added, “Where is the money going to go? Is about 70 percent will go to Africa. Africa has become increasingly central for our operations, particularly IDA, where we are providing a lot of support to fragile states. Here, again, the cooperation and coordination with the UN system has been excellent and important. We are allocating about 40 percent of that to fragile and conflict affected states on this.”

He also said, “Climate change is absolutely key. And in climate, about 45 percent of the resources are going to climate, of which about half is going to mitigation efforts, half is going going to adaptation and, measures.”

He said, “For example, we are working with the African Development Bank of the so-called M300 that is a huge Africa wide program that is seeking to provide access to 300 million Africans by 2032 to electricity, that is, the most ambitious effort ever of the international community.”

[RudiCarlosMurga-xz]

230B initial, 23T on loan,
Energy, Viking development

[xasanaxmed]

👋 Axel Van Trotsenburg, Senior Managing Director For Partnership And Development Policy For The World Bank Group.

[NayNaiParZay-oi]

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[lflee]

This man's voice sounds like a mix of two octaves 😲

[ileathan]

I would be there if they would let me talk... Truth is real questions are not even asked.

I can't even type what these people are.