Spain has announced an early contribution of €400 million to the International Development Association (IDA), the World Bank‘s institution working in the world’s poorest countries. This figure represents an increase of almost 40% over its last donation, positioning Spain among the top contributors to IDA and highlighting its role as a key player in the field of development aid.

In this context, Spain’s Minister of Economy, Trade and Business, Carlos Cuerpo, stressed that this contribution reaffirms Spain’s commitment to the fight against extreme poverty and the improvement of living conditions in the most vulnerable regions of the planet, in line with the United Nations Sustainable Development Goals (SDGs).

International Development Association (IDA)

The International Development Association (IDA), part of the World Bank Group, finances projects in critical areas such as education, health, access to clean water, energy and sustainable infrastructure in developing countries. With the support of Spain and other international donors, IDA seeks to increase its capacity to respond to global crises, promoting long-term solutions and inclusive development.

Spain’s commitment to IDA comes at a crucial time, given the context of global uncertainty and growing inequalities. This investment will be key to projects that seek to close poverty gaps, improve infrastructure and strengthen the capacity of the poorest countries to cope with the effects of climate change.

For the full story click here.

Business opportunities with multilateral organisations

If you want to learn more about business opportunities that Multilateral Development Banks and other organisations offer to the private sector, register on our SALT web platform and we will contact you!