Kathmandu, June 19: The 21st replenishment meeting of the International Development Association (IDA) under the World Bank Group kicked off in Kathmandu, Nepal from Tuesday. This is the biggest event of the World Bank hosted in Nepal, a country renowned for its natural beauty with enormous development potential and resilience. Prime Minister Pushpa Kamal Dahal ‘Prachanda’ inaugurated the four-day Third IDA 21 replenishment meeting amidst a grand ceremony.
The International Development Association (IDA) is the part of the World Bank that helps the world’s low-income countries. The IDA, which provides grants and zero- to low-interest loans, has helped transform millions of lives and communities since its inception in1960. The theme for IDA21 is ending poverty on a livable planet: Delivering impact with urgency and ambition.
To fulfill this, the IDA21 policy package will have five focus areas of people, planet, prosperity, infrastructure and digitalisation, supported by four lenses of gender, jobs, fragility, conflict and violence, and private investments. Replenishing IDA’s resources will be a key topic of the meeting, which comes at the midpoint of a replenishment cycle concluding in December 2024—when donors commit to contributions for the cycle that runs from July 2025 to June 2028. The IDA has been providing assistance to more than 75 low- and middle-income countries.
The IDA meeting is held in every three years. Inaugurating the meeting, Prime Minister Prachanda .
