Seoul, Korea - December 5, 2024
As prepared for delivery
Good morning, everyone.
As we come to the end of the IDA21 replenishment process, I want to start by expressing my gratitude to all of you. Your commitment to the world’s poorest countries, and to international cooperation, has driven the progress we’ve made together over the past year. Today, we are taking the next decisive step in that journey—one that will impact the lives of millions.
IDA countries are grappling with extraordinary challenges that continue to test their resilience: persistently high poverty rates, the escalating impacts of climate change, fragility and conflict and the lingering aftershocks of global crises, from the pandemic to economic disruptions. I see this repeatedly first-hand in my travels, including in my first visit in this role to Malawi, a country severely impacted by drought and a food security crisis.
On top of this we see record levels of debt service payments, which crowd out critical development and growth-enhancing expenditures, making concessional resources, along of course with enhanced domestic resource mobilization and crowding in of private sector financing, more critical than ever. These challenges are compounded by constrained fiscal space in donor countries, making your contributions and continued partnership even more significant.
IDA is not just a financing platform—it is a partnership for transformative change, built on a foundation of ambition, trust, and shared responsibility.
With this replenishment, we are not only responding to immediate needs; we are also laying the groundwork for long-term, sustainable progress. Our goals are bold, yet they reflect the urgent realities facing IDA countries—the need for robust health systems, quality education, resilient infrastructure, and sustainable job creation. These are not discretionary investments; they are essential lifelines that enable communities to overcome challenges and seize opportunities. IDA’s mission is to ensure that this support reaches those who rely on it, creating pathways to stronger, more inclusive futures for the most vulnerable people and communities around the world.
This replenishment cycle has marked an important shift in focus. It goes beyond the resources mobilized; it’s about ensuring that IDA’s financing translates into real-world outcomes. Moving from the policy package we have worked on to its implementation and impact is what I’d like to spend this time discussing with you.
In doing so, I want first to highlight the IDA21 Scorecard—a tool that embodies our collective commitment to a results-driven approach. The Scorecard will enhance IDA’s transparency and accountability, showing where we are achieving progress and highlighting areas where adjustments are needed. By identifying obstacles early, we can strengthen implementation effectiveness and ensure resources reach those who need them most.
Take, for example, our target to provide 250 million people in Africa with electricity by 2030, reaching 300 million people jointly with the African Development Bank – a “Mission 300” that I have personally championed, and which we are working together on with a broad range of partners. This is not just a number; it represents lives changed in profound ways. It means children can study after dark, businesses can thrive, and entire communities can access new opportunities for growth and prosperity. It is a tangible step toward a brighter, more inclusive future. Similarly, our commitments to expanding opportunities for women, addressing food insecurity, and helping countries adapt to climate change reflect a broader vision of equitable and sustainable development—one that leaves no one behind. This emphasis on outcomes will keep us focused, ensuring that every dollar mobilized under IDA21 translates into tangible results.
As we turn our attention to implementation, we must double down on the progress we have made so far to become a faster, simpler and more impactful bank for IDA countries. Delivering on IDA21’s ambitious goals will also require us to address a range of implementation hurdles head-on—from navigating complex political environments to strengthening local capacity, such as in small states or FCV situations. But it is also an opportunity to deepen partnerships, build capacity, and accelerate project implementation—through expanded hands-on implementation support, for example—while enhancing our efficiency and effectiveness.
In implementing IDA21, it is critical that we ensure alignment with the priorities and contexts of our partner countries. Over the years, we have seen that true progress happens when governments take the lead, with IDA providing the technical knowledge and financial support to help realize their visions. This requires more than funding—it demands continuous investment in capacity-building for local institutions, from enhancing service delivery systems to improving procurement practices. By working hand-in-hand with governments and communities, we can create a foundation for sustainable, locally-driven development.
To this end, the Global Facility for Project Preparation will significantly aid the implementation of IDA21 by ensuring that projects are meticulously prepared and ready for execution. By providing resources for essential preparatory activities, such as design studies and capacity building, the Facility will enhance project quality and readiness, thereby facilitating smoother and more effective implementation. We have also launched a Global Leaders for Development for Impact Network as a platform to share successes on addressing implementation barriers.
All these efforts aim to both speed up implementation while leaving “development behind” in the form of strengthened country systems, which can accelerate the delivery of development outcomes across IDA, own-financed, and partner-supported projects.
Climate resilience is another pressing issue. As IDA countries face the mounting impacts of climate change—rising temperatures, natural disasters, and shifting weather patterns—there is a need for targeted investments in adaptation and resilience. These efforts often require significant upfront resources and specialized technical expertise, which are not always readily available. Under IDA21, we are addressing this gap by fostering partnerships that bring together local knowledge, private sector innovation, and global best practices. Whether it’s integrating climate-smart solutions into infrastructure or supporting vulnerable communities in adapting to changing conditions, our focus is on ensuring that today’s investments build resilience for the future.
The imperative for efficiency has never been greater. With fiscal pressures mounting worldwide, the expectation is clear: IDA must deliver more efficiently than ever before. To meet this challenge, we are embracing new approaches to enhance operational efficiency and effectiveness. Streamlining processes, harnessing digital technologies, and improving knowledge-sharing mechanisms are all critical to ensuring that every dollar stretches further. These innovations are not only about cost savings—they are about improving the way we work to become a better and more agile bank for our clients and the people we serve.
Our ability to deliver on these challenges hinges on the strength of our partnerships and the robust policy and financing package we have built together. As we reflect on the journey that brought us to this moment, it’s clear that IDA is more than a vehicle for development financing. It is an example of what is possible when the global community comes together with a shared purpose. The IDA21 policy and financing package reflects this collaborative spirit. It has been shaped and strengthened by your valuable feedback, reflecting our shared commitment to tackle the most pressing challenges facing IDA countries. Today, as we pledge our contributions, we are reaffirming our confidence in the power of partnership to drive progress even in a difficult global environment.
However, as I hope that I’ve highlighted, our task does not end here. Your pledges are critical, but they are only the beginning. Delivering on the commitments we’ve made requires a relentless focus on implementation, adaptability in the face of adversity, innovation to further stretch and leverage every dollar that is contributed, and a deep-seated accountability to those we serve. Together, we can ensure that IDA21 lives up to its promise as a catalyst for transformation.
In closing, let us remind ourselves of what’s at stake. The world is at a critical juncture with an almost perfect storm of threats to development progress. For the millions of people who stand to benefit from IDA’s support, this is not just about numbers or policies. It’s about creating pathways to opportunity and prosperity for those who need it most. Let us commit to this vision with determination and urgency.
Thank you.
