Months after 19 African heads of state urged the international community to support a robust replenishment of the World Bank’s fund for low-income countries, the International Development Association (IDA), another milestone unfolded during the High-Level week of the United Nations General Assembly.
Denmark stepped forward with an early commitment, pledging to increase its IDA contributions by 40% and signaling its support for one of the world’s most critical development lifelines. IDA provides support to 77 low-income countries, including 40 in Africa. Among them is Somalia, one of the poorest countries in the world. Somalia faces severe challenges, from combating terrorism to addressing the climate crisis, and is often forced to make difficult decisions.
“Do we deal with the climate crisis or provide basic services for our people?” asked Prime Minister of Somalia Hamza Abdi Barre, speaking at the SDG Lounge session on Financing Africa’s Future. He emphasized that Somalia is determined to tackle both issues simultaneously. “IDA is fundamental in our efforts to succeed,” he said, adding, “Our vision for Somalia is to achieve sustainability and growth to lift our people out of poverty.”
Minister for Foreign Affairs of Denmark, Lars Løkke Rasmussen, echoed the importance of IDA and its 21st replenishment, which aims to provide financial support for countries like Somalia. Mr Rasmussen highlighted that IDA is a lifeline for nearly two billion people and aligns with Denmark’s own development policies. “When Somalia asked, we decided to try to answer the call,” Mr Rasmussen stated. “What I find particularly unique is that this business model means every dollar contributed is multiplied 3.5 times. It’s money well-spent.”
As nations and partners around the world come together to push for a robust replenishment of IDA, its success is seen as vital to progress on the SDGs and in supporting sustainable growth, poverty reduction, and crisis resilience across some of the world’s most vulnerable countries.
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