Zagreb, Croatia, December 2, 2024 – The Government of Croatia announced a significant increase in its financial commitment to the International Development Association (IDA) for the 21st replenishment cycle (IDA21). Croatia will enhance its pledge by an impressive 115%, reflecting the nation’s dedication to supporting low-income countries in their pursuit of sustainable development and poverty reduction.
This early pledge announcement comes ahead of the final IDA21 replenishment meeting scheduled for December 5-6, 2024, in Seoul, South Korea. The increase underscores Croatia's recognition of the urgent need for concessional financing as global crises disproportionately impacts vulnerable populations.
Marko Primorac, Deputy Prime Minister and Minister of Finance of the Republic of Croatia, stated, “In these challenging times, it is imperative that we stand in solidarity with the world’s most disadvantaged communities. Our increased commitment to IDA21 is a testament to Croatia’s unwavering support for international development and our belief in the transformative power of collective action.”
The IDA plays a crucial role in providing financial resources and expertise to the world’s poorest countries, enabling them to tackle pressing issues such as climate change, food security, and health crises. With this enhanced pledge, Croatia aims to contribute to the global effort to alleviate poverty and foster resilience among low-income nations.
Stipe Župan, State Secretary at the Ministry of Finance of the Republic of Croatia, added, “This substantial increase in our pledge not only reflects our commitment to global development but also aligns with our national priorities of promoting sustainable economic growth and social equity. We encourage other nations to follow suit and increase their contributions to IDA21.”
“Croatia's significant increase in its IDA21 pledge is a powerful demonstration of leadership in global solidarity,” said Akihiko Nishio, Vice President for Development Finance at the World Bank. “As we face unprecedented challenges, such commitments are vital for ensuring that the world’s poorest countries can access the resources they need to recover and thrive.”
The IDA21 replenishment process is critical for ensuring that low-income countries have access to the necessary resources to navigate the myriad challenges they face. Croatia’s early pledge serves as a call to action for other donor countries to enhance their commitments and support the vital work of the IDA.
For media inquiries, please contact:
In Washington, Meriem Gray, mgray@worlbank.org,
In Zagreb, Sanja Back, sanja.bach@mfin.hr.
For more information, please visit: https://ida.worldbank.org/en/replenishments/road-to-IDA21
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