The World Bank is “on track” to hit a target of $95 billion for the replenishment of a key fund for low-income countries, a senior official told Devex, even as the funding round comes a year early.
“We should be able to do at least $95 billion,” said Samuel Maimbo, director of development finance at the World Bank.
The figure is a 15% increase from the International Development Association’s last funding round. IDA19 was finalized in December 2019, and reached a package worth $82 billion in what was dubbed an historic accomplishment.