African leaders, including President Ruto, have called for significant increases in contributions to the International Development Association (IDA), a World Bank facility providing low-interest loans and grants for development and climate change initiatives. At the IDA Heads of State Summit, President Ruto highlighted the IDA's pivotal role in sustainable development, advocating for an increase in funding from $93 billion to $120 billion. This push is supported by global business leaders and is seen as a historic moment of solidarity among nations. Ayhan Kose, Deputy Chief Economist at the World Bank, emphasized the need for IDA countries to improve policy frameworks and advance structural reforms. The World Bank chief expressed confidence that rich nations will meet these increased donation requests.
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To boost investment, .@WBG_IDA countries must improve fiscal, monetary, & financial policy frameworks and advance an array of structural reforms to strengthen institutions & enhance human capital. -Ayhan Kose, Deputy Chief Economist Learn more โก๏ธ https://t.co/ChqIJmTx3h https://t.co/R4Mvkijd4r
๐๐จ๐ฎ๐ง๐๐ฎ๐ฉ ๐จ๐ ๐๐จ๐ฉ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐จ๐ง๐ญ๐๐ง๐ญ [๐๐๐ญ๐ก ๐๐ฉ๐ซ.]: 1. President Ruto advocates for World Bank funding boost urging members to raise International Development Association (IDA) contributions from $93B-120B Kenya owed IDA $11.7B/KES 1.8T as of Dec '23 https://t.co/4XvERGiAcw
๐๐จ๐ฎ๐ง๐๐ฎ๐ฉ ๐จ๐ ๐๐จ๐ฉ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐จ๐ง๐ญ๐๐ง๐ญ [๐๐๐ญ๐ก ๐๐ฉ๐ซ.]: 1. President Ruto advocates for World Bank funding boost urging members to raise International Development Association (IDA) contributions from $93B-120B Kenya owed IDA $11.7M/KES 1.8B as of Dec '23 https://t.co/VNZ2ibWJGG
African Leaders Seek Record World Bank Financing to Combat Climate Change https://t.co/eE3IQZ9pKq
Bridgewater and Global Citizen CEOs support push to replenish World Bank coffers. https://t.co/VvTBsOoFOs
"We call on our partners to meet us at this historic moment of solidarity and respond effectively by increasing their IDA contributions... to at least $120 billion," President Ruto told a meeting of African leaders. https://t.co/OaXyJfunRR https://t.co/xXacgypgRO
African leaders on Monday called for rich countries to commit record contributions to a low-interest World Bank facility for developing nations that they rely on to help fund their development and combat climate change. | @News24_Business https://t.co/scEMiN1Jar
"We have to focus on results and impact. This will require more from @WBG_IDA. It will require more from all parts of the @WorldBank Group, governments and the private sector." Watch Ajay at the IDA Heads of State Summit https://t.co/QGw7sXJTch #IDAworks #IDA21 https://t.co/m2BZnkDwSA
Transformative progress can only be made in Africa if we identify our priorities and champion for the strong replenishment of the International Development Association finances. Our team effort, sustained by the exemplary stewardship of the World Bank, can end poverty andโฆ https://t.co/FSZD4Lhagw
President Ruto has advocated for a boost in World Bank funding, urging members to increase contributions to the International Development Association (IDA) from $93B to $120B. Since 1960, IDA has provided no-to low-interest loans & grants to countries to developing nations. https://t.co/epNwIDnbKj
African leaders on Monday called for rich countries to commit record contributions to a low-interest World Bank facility for developing nations that they rely on to help fund their development and combat climate change https://t.co/HXZadygFye
At IDA Heads of State Summit, @WilliamsRuto underscored the critical role of @WBG_IDA in achieving development goals, adding IDA's demand-driven programs & long-term loans are pivotal in empowering nations achieve sustainable development. https://t.co/zhAVhj1TXk #IDAworks #IDA21 https://t.co/u0bQCkAGPU