Ireland Boosts World Bank IDA Funding by 33.5%

Ireland has increased its contribution to the World Bank’s International Development Association (IDA) by 33.5%, pledging €141.4 million to support the world’s poorest nations through concessional loans and grants. Finance Minister Paschal Donohoe affirmed Ireland’s commitment to multilateral cooperation, especially as other countries reduce aid amidst rising geopolitical tensions. The announcement was made at the IMF and World Bank Spring Meetings in Washington, where shifting global aid priorities were discussed. The IDA’s latest replenishment round secured a record $100 billion in donor pledges, though future contributions by the US and some European countries remain uncertain. World Bank President Ajay Banga emphasized the vital role of such funding in building infrastructure and alleviating poverty. Ireland's move stands in contrast to reduced commitments from some European peers.