Analysis: Donor cuts add pressure to World Bank aid drive |
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June 13, 2010
The World Bank will need to get creative in raising funds to help the poorest countries now that the richest ones are feeling pinched themselves. In 2007, the World Bank collected $42 billion for the International Development Association, or IDA, the world's largest fund for the poor.
The World Bank will need to get creative in raising funds to help the poorest countries now that the richest ones are feeling pinched themselves. In 2007, the World Bank collected $42 billion for the International Development Association, or IDA, the world's largest fund for the poor.
To try to match that total this year, it is tapping a deeper pool of emerging market donors, promising more strenuous oversight of how the money is used and is even prepared to let fiscally strained countries stretch out installment plans.
"Donors are under stress," said Whitney Debevoise, a former U.S. executive director to the World Bank who is now at the Washington-based law firm Arnold & Porter LLP.
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