WORLD BANK: Poorest countries to receive more than $20 billion from IDA.

0 Comments | M2 Presswire, November, 1998

M2 PRESSWIRE-24 November 1998-WORLD BANK: Poorest countries to receive more than $20 billion from IDA (C)1994-98 M2 COMMUNICATIONS LTD RDATE:191198 -- Donors agree on replenishment of World Bank's concessional lending arm Representatives of 39 donor countries have agreed on new funding for the International Development Association (IDA), the World Bank affiliate which is one of the main sources of development financing for the world's poorest countries.

Donors meeting here today endorsed a replenishment which will allow IDA to provide concessional lending of $20.5 billion (SDR 15.3 billion)* to poor countries between July 1, 1999 and June 30, 2002. New contributions from donor countries to this package will total $11.6 billion (SDR 8.7 billion), with the...