WASHINGTON, D.C. — The World Bank announced on Thursday that it had raised close to $24 billion to provide loans and grants for some of the world’s poorest nations, which it can leverage to generate a record $100 billion in total spending power.
Donor countries committed $23.7 billion to replenish the bank’s concessional lending arm, known as the International Development Association (IDA), a World Bank spokesman told Agence France-Presse (AFP), marking a slight increase from the roughly $23.5-billion pledged during the last fundraising round three years ago.
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