Donor Support : World Bank’s International Development Association (IDA) pledges to support Malawi respond to natural disasters, Agriculture and Education

The World Bank financing arm , International Development Association (IDA) has assured President Dr Lazarus Chakwera led Government continued support towards response to natural disasters.

IDA co- founder Kate Garve said this in Washington DC when the organization hosted delegates to dinner.

Kate Garve hailed Malawi for the economic reforms through leader of  Delegation Minister of Finance Simplex Chithyola Banda.

“Your contribution highlighted the flexibility of IDA in supporting countries like Malawi to
respond to emergencies and natural disasters, to invest in education and agriculture and to strengthen systems to build resilience. We hope that your conversations were insightful, inspiring, and exciting. As we enter the second half of the Goals, it is essential for us to work together to ensure this IDA replenishment is the largest ever because investing in IDA is investing in our future,” she said.

International Development Association (IDA) offers concessional loans and grants to the world’s poorest developing countries. The IDA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1960 to complement the existing International Bank for Reconstruction and Development by lending to developing countries which suffer from the lowest gross national income, from troubled creditworthiness, or from the lowest per capita income.

The association shares the World Bank’s mission of reducing poverty and aims to provide affordable development financing to countries whose credit risk is so prohibitive that they cannot afford to borrow commercially or from the Bank’s other programs.

The IDA is the single largest provider of funds to economic and human development projects in the world’s poorest nations.