World Bank commitments rose 16 percent in fiscal 2014

World Bank project in Ghana. World Bank commitments to sub-Saharan Africa rose from $14.7 billion in fiscal 2013 to $15.1 billion in fiscal 2014. Photo by: Jonathan Ernst / World Bank / CC BY-NC-ND

The World Bank Group kicked off fiscal year 2015 with some good news: Amid much-discussed institutionwide reforms, including a new operating model that is supposed to reduce inefficiencies within the organization, bank commitments increased from $52.6 billion in fiscal 2013 to $61 billion in fiscal 2014.

The 16 percent rise can be attributed to the higher commitments from three different institutions within the World Bank Group: the International Bank for Reconstruction and Development, the International Development Association and the Multilateral Investment Guarantee Agency.

Commitments from the World Bank Group increased from $52.6 billion in fiscal 2013 to $61 billion in fiscal 2014. View larger version.

Commitments from the IBRD — which provides loans, guarantees, risk management products and advisory services to middle-income and creditworthy poorer countries — rose 22 percent, from $15.2 billion in fiscal 2013 to $18.6 billion in fiscal 2014.

The IDA, or the bank’s main arm for lending to the world’s poorest countries, saw a 36 percent increase in commitments. From $16.3 billion in 2013, IDA commitments surged to $22.2 billion in 2014. Since 2014 was the last year under the IDA-16 replenishment period — which resulted in $49.3 billion in donor contributions for fiscal years 2012 to 2014 — all remaining IDA-16 resources were committed during the 2014 fiscal year.

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About the author

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    Anna Patricia Valerio

    Anna Patricia Valerio is a Manila-based development analyst focusing on writing innovative, in-the-know content for senior executives in the international development community. Before joining Devex, Patricia wrote and edited business, technology and health stories for BusinessWorld, a Manila-based business newspaper.

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