Sweden has committed 8.2 billion SEK to the International Development Association (IDA), the World Bank's fund for the poorest countries. This contribution, to be disbursed between 2026 and 2034, aims to generate $100 billion in aid for 1.9 billion people across 78 nations. The initiative comes amid rising economic and geopolitical uncertainties, highlighting Sweden's significant role in global aid.
Sweden Pledges Billion-Dollar Support to World's Poorest Nations
Sweden Pledges Billion-Dollar Support to World's Poorest Nations
Sweden will contribute 8.2 billion SEK to the International Development Association (IDA), the World Bank's fund for the poorest countries.
Sweden pledged this contribution to IDA last December, and the government has now decided on the support, which will be disbursed gradually from 2026 to 2034.
According to the government, the fund's model allows each invested aid krona to generate three and a half to four kronor in loans and grants to recipient countries. In total, the fund's replenishment will generate $100 billion for 1.9 billion people in 78 of the world's poorest countries over the next three years.
"We are currently living in a time marked by increased economic and geopolitical uncertainty, which affects low-income countries the most. Therefore, Sweden is contributing to a record replenishment of the fund with a total of 8.2 billion SEK," says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa (M) in a press release.