Obbligazione Global Development Alliance 0.75% ( XS2388161650 ) in GBP

Emittente Global Development Alliance
Prezzo di mercato 100 GBP  ▲ 
Paese  Stati Uniti
Codice isin  XS2388161650 ( in GBP )
Tasso d'interesse 0.75% per anno ( pagato 1 volta l'anno)
Scadenza 21/09/2028 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione International Development Association XS2388161650 in GBP 0.75%, scaduta


Importo minimo 1 000 GBP
Importo totale 1 500 000 000 GBP
Descrizione dettagliata L'International Development Association (IDA) è un'istituzione finanziaria internazionale che fa parte del Gruppo Banca Mondiale, fornendo prestiti e donazioni a basso costo ai paesi più poveri del mondo per sostenere lo sviluppo economico e sociale.

The Obbligazione issued by Global Development Alliance ( United States ) , in GBP, with the ISIN code XS2388161650, pays a coupon of 0.75% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 21/09/2028







Information Statement
International Development Association
E V E L O P M
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The International Development Association (IDA) intends from time to time to issue its notes and bonds with
maturities and on terms determined by market conditions at the time of sale. The notes and bonds may be sold
to dealers or underwriters, who may resell them, or they may be sold by IDA directly or through agents.
The specific currency, aggregate principal amount, maturity, interest rate or method for determining such rate,
interest payment dates, if any, purchase price to be paid to IDA, any terms for redemption or other special
terms, form and denomination of such notes and bonds, information as to stock exchange listing and the names
of the dealers, underwriters or agents in connection with the sale of such notes and bonds being offered at a
particular time, as well as any other information that may be required, will be set forth in a prospectus or
supplemental information statement.
Except as otherwise indicated, in this Information Statement (1) all amounts are stated in current United States
dollars translated as indicated in the Notes to Financial Statements: Note A and (2) all information is given as
of June 30, 2023.
Notes and bonds of IDA have not been and will not be registered under the U.S. Securities Act of 1933
(the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the
United States and may not be offered, sold, pledged or otherwise transferred within the United States
except pursuant to an exemption from registration under the Securities Act.
AVAILABILITY OF INFORMATION
Upon request, IDA will provide additional copies of this Information Statement without charge. Written or
telephone requests should be directed to IDA's main office at 1818 H Street, N.W., Washington, D.C. 20433,
Attention: Capital Markets and Investments Department, tel: (202) 477-2880, or to IDA's Tokyo office at Fukoku
Seimei Building 14F, 2-2-2 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011, Japan, tel: +81-3-3597-6650.
Recipients of this Information Statement should retain it for future reference, since it is intended that
each prospectus and any supplemental information statement issued after the date hereof will refer to
this Information Statement for a description of IDA and its financial condition, until a subsequent
information statement is issued.
October 5, 2023


SUMMARY INFORMATION
As of June 30, 2023, unless otherwise indicated
International Development Association (IDA) is an international organization owned by its 174 member countries and is rated triple-A by the
major rating agencies. IDA has been providing financing and knowledge services to many of the world's developing countries for 62 years.
IDA provides loans, grants, guarantees, and other financial products to the poorest and most vulnerable countries to help meet their
development needs, and technical assistance and policy advice by leveraging its experience and expertise. It also supports countries with
disaster risk financing and insurance against natural disasters and health-related crises and facilitates financing through trust fund partnerships.
To meet its development goals, IDA continues to work with partners at global and country levels to support its borrowing countries in
addressing the impact of multiple crises, to enhance resilience, and lay the groundwork for rebuilding better. To further enhance these efforts,
the Board and Management have been working on an Evolution Roadmap for the WBG to better address the scale of development challenges
by adapting the WBG's vision and mission, strengthening its operating model, and enhancing its financial capacity and model. Management is
in the process of advancing agreed actions and developing further proposals, including efforts to expand crisis preparedness, response and
recovery and increase private finance mobilization, with particular efforts to scale investment in emerging markets.
IDA has financed its operations over the years with its own equity, including regular additions to equity provided by member countries as part
of the replenishment process. As a result of the strong support of member countries, IDA has built up a substantial equity base of
$185.8 billion as of June 30, 2023. By prudently leveraging its equity and blending market debt with equity contributions from members, IDA
has increased its financial efficiency, and scaled up its financing to support the escalating demand for its resources while ensuring its long-
term financial sustainability through a prudent risk management framework.
IDA's Twentieth Replenishment (IDA20), with the replenishment period of FY23 through FY25, commenced on July 1, 2022, with a
financing envelope of $93.0 billion, including $11.0 billion of IDA19 carry over, supported by $23.5 billion of member contributions. IDA20
recognizes the need to help address the profound challenges faced by IDA countries. IDA20 reaffirms the international community's
commitment to scale up support to enable IDA countries to respond to the effects of the coronavirus disease (COVID-19) pandemic crisis,
recoup their development losses, and resume progress toward the 2030 Sustainable Development goals. On July 5, 2023, IDA's Board of
Governors adopted the Resolution to establish a Crisis Facility to scale up support for the world's poorest countries to address worsening
development challenges due to the overlapping global crises, particularly food insecurity and extreme climate events. This facility will be
supported by member contributions and enhance IDA's financing capacity in addition to IDA20.
Results of Operations
IDA prepares its financial statements in conformity with accounting principles generally accepted in the United States of America (U.S.
GAAP). IDA's reporting currency is the U.S. dollar. IDA's functional currencies are the SDR and its component currencies of the U.S. dollar,
euro, Japanese yen, pound sterling and Chinese renminbi. For the fiscal year ended June 30, 2023, IDA reported a net loss of $3,262 million,
compared with net income of $12 million in FY22. The decrease was primarily driven by the increase in development grant expenses, lower
unrealized mark-to-market gains on non-trading portfolios, and higher borrowing expenses.
Adjusted Net Income
In FY23, IDA's Adjusted Net Income was $193 million, compared to $260 million in FY22. The decrease was primarily due to higher
borrowing expenses and higher provision expenses for losses on loans and other exposures, partially offset by higher net interest revenue on
investments and loans.
Equity
As of June 30, 2023, IDA's equity was $185.8 billion, an increase of $7.1 billion compared to the prior year. This increase was primarily due
to $13.5 billion of subscriptions and contributions paid in, partially offset by $3.3 billion increase in nonnegotiable, non-interest bearing
demand obligations and $3.3 billion increase in the accumulated deficit. As of June 30, 2023, IDA's equity included $310.7 billion of
subscriptions and contributions committed, of which $271.3 billion had been paid in and $35.2 billion was yet to be received. IDA's equity
also included $62.8 billion of accumulated deficit. The accumulated deficit primarily represents the impact of IDA's development grant
activity and the HIPC and MDRI programs, which are compensated for by member contributions and recorded as subscriptions and
contributions. The five largest member countries of IDA are the United States (with 9.67% of the total voting power), Japan (8.35%), United
Kingdom (6.91%), Germany (5.31%), and France (3.86%).
Assets
Loans. The largest component of IDA's assets is its loans outstanding. As of June 30, 2023, the net loans outstanding were $187.7 billion. In
FY23, IDA's loan commitments totaled $27.0 billion. FY23 net loan commitments included $1.2 billion approved under the IDA19 envelope
due to the extension of the closing date for the approval of IDA19 operations. In fulfilling its mission, IDA makes concessional and
non-concessional loans to the poorest countries. It is IDA's practice not to reschedule principal, interest, or charges on its loans or participate
in debt rescheduling agreements.
Loans in nonaccrual status totaled 0.5% of IDA's loans outstanding and represented loans made to or guaranteed by three borrower countries.
IDA's accumulated provision for losses on loans and other exposures was equivalent to 2.0% of the underlying exposures as of June 30, 2023.
2


Investments ­ trading portfolio. IDA holds a portfolio of liquid investments to ensure that it can meet its financial commitments. As of
June 30, 2023, the trading portfolio totaled $30.7 billion. Under IDA's Investment guidelines, aggregate liquid asset holdings are kept at or
above a specified prudential minimum to safeguard against cash flow interruptions. The prudential minimum liquidity level is set at 80% of
24 months of projected net outflows. For FY23, the prudential minimum was $20.8 billion. As of June 30, 2023, IDA's liquid assets were
146% of the FY23 prudential minimum. The prudential minimum for FY24 has been set at $24.7 billion.
Borrowings
Concessional Partner Loans (CPLs). CPLs continue as a source of funding, whereby the borrowing terms of the concessional loans from
members aim to follow the concessional features of IDA's loans. As of June 30, 2023, total borrowings from members were $7.2 billion.
Market Borrowings. As of June 30, 2023, market borrowings carried at fair value were $16.8 billion compared to $19.7 billion as of June 30,
2022, primarily due to net maturities during the year. Beginning in FY22, IDA started issuing long-term fixed rate bonds carried at amortized
cost to fund its fixed rate loans. As of June 30, 2023, market borrowings carried at amortized cost were $8.6 billion, an increase of $2.4 billion
compared to June 30, 2022, primarily due to a new issuance during the year.
Asset / Liability Management (ALM). IDA has asset/liability management policies in place which are aimed at protecting its financial
capacity, as measured by the capital adequacy framework. IDA uses derivatives, including currency and interest rate swaps, in connection
with its operations in order to better manage balance sheet risks. The credit exposures on swaps are managed through specified credit-rating
requirements for counterparties and through netting and collateralization arrangements. Since FY22, IDA's interim ALM policy allows, under
specific criteria, funding fixed rate loans with long-term fixed rate market debt and CPL (both reported at amortized cost), as part of IDA's
interest rate risk management to align the interest rate and maturities of the debt with those of the loan portfolio.
The above information is qualified by the detailed information
and financial statements appearing elsewhere in this Information Statement.
3


This Management's Discussion & Analysis (MD&A) reflects the results of the International Development
Association's (IDA) financial performance for the fiscal year ended June 30, 2023 (FY23). IDA undertakes no
obligation to update any forward-looking statements. Certain reclassifications of prior years' information have
been made to conform with the current year's presentation. For discussion of IDA's financial results for the year
ended June 30, 2022, as compared to the year ended June 30, 2021, see Section IV ­ Financial Results in IDA's
MD&A and Financial Statements for the fiscal year ended June 30, 2022 (FY22).
Box 1: Selected Financial Data
In millions of U.S. dollars, except ratios which are in percentages
As of and for the fiscal years ended
June 30,
2023
2022
2021
Lending Highlights (Sections IV & V)
Loans, Grants and Guarantees
Net commitments a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 34,245
$ 37,727
$ 36,028
Gross disbursements a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27,718
21,214
22,921
Net disbursements a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19,968
14,477
16,465
Balance Sheet (Section IV)
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$227,482
$220,014
$219,324
Net investment portfolio b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30,672
39,561
37,921
Net loans outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
187,669
174,490
177,779
Borrowing portfolio c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35,393
35,032
28,335
Total equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
185,782
178,668
180,876
Income Statement (Section IV)
Interest revenue, net of borrowing expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
2,367
$
1,901
$
1,996
Transfers from affiliated organizations and others . . . . . . . . . . . . . . . . . . . . . . . . . . . .
117
274
544
Development grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3,946)
(2,372)
(2,830)
Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3,262)
12
(433)
Non-GAAP Measures
Adjusted Net Income (Section IV) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
193
$
260
$
394
Deployable Strategic Capital Ratio (Section IX) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24.1%
26.4%
30.4%
a.
Commitments that have been approved by the Executive Directors (referred to as "the Board" in this document) and are
net of full cancellations and terminations approved in the same fiscal year. Commitments and disbursements exclude
IDA-IFC-MIGA Private Sector Window (PSW) activities.
b.
For the composition of the net investment portfolio, see Notes to the Financial Statements, Note C ­ Investments ­ Table C2.
c.
Includes associated derivatives. For the composition of the Borrowing portfolio, see Notes to the Financial Statements,
Note E ­ Borrowings.
4


SECTION I: EXECUTIVE SUMMARY
IDA, an international organization owned by its 174 member countries, is one of the five institutions of the
World Bank Group (WBG1). Each WBG organization is legally and financially independent from IDA, with
separate assets and liabilities. IDA is not liable for the obligations of the other institutions.
IDA is rated triple-A by the major rating agencies and has been providing financing and knowledge services to
many of the world's developing countries for 62 years. With its many years of experience and its depth of
knowledge in international development, IDA plays a key role in achieving the WBG's goal of helping countries
achieve better development outcomes. IDA provides loans, grants, guarantees, and other financial products to the
poorest and most vulnerable countries to help meet their development needs, and technical assistance and policy
advice by leveraging its experience and expertise. It also supports countries with disaster risk financing and
insurance against natural disasters and health-related crises and facilitates financing through trust fund
partnerships.
IDA and its affiliated organizations seek to help countries in reducing poverty and inequality, achieve
improvements in growth, job creation, governance, the environment, climate adaptation, mitigation and
resilience, human capital, infrastructure and debt transparency, among others. To meet its development goals, the
WBG supports client countries' efforts to implement programs to improve growth and development outcomes.
Further, new and ongoing challenges continue to influence the global outlook. These include high inflation, the
rise in food insecurity, growing inequality, global fragility, pandemic risk, Russia's invasion of Ukraine and
other geopolitical events, rising debt, climate change, and macroeconomic imbalances. In response, IDA, as part
of the WBG efforts, continues to work with partners at global and country levels to support its borrowing
countries in addressing the impact of these multiple crises, to enhance resilience, and lay the groundwork for
rebuilding better. To further enhance these efforts, the Board and Management have been working on an
Evolution Roadmap for the WBG to better address the scale of development challenges by adapting the WBG's
vision and mission, strengthening its operating model, and enhancing its financial capacity and model.
Management is in the process of advancing agreed actions and developing further proposals, including efforts to
expand crisis preparedness, response and recovery and increase private finance mobilization, with particular
efforts to scale investment in emerging markets.
1
The other WBG institutions are the International Bank for Reconstruction and Development (IBRD), the International
Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for
Settlement of Investment Disputes (ICSID). The World Bank consists of IBRD and IDA.
5


Summary of Financial Results
Net Income and Adjusted Net Income
In millions of U.S. dollars
Net Income: IDA reported a net loss of $3,262 million in
Adjusted Net Income (Loss)
FY23, compared to net income of $12 million in FY22. The
Net Income (Loss)
8,000
decrease was primarily driven by the increase in development
grant expenses, lower unrealized mark-to-market gains on
4,000
non-trading portfolios, and higher borrowing expenses. See
Section IV: Financial Results.
0
Adjusted Net Income: IDA's adjusted net income was
(4,000)
$193 million in FY23, compared to $260 million in FY22.
The decrease was primarily due to higher borrowing expenses
(8,000)
and higher provision expenses for losses on loans and other
FY19
FY20
FY21
FY22
FY23
exposures, partially offset by higher net interest revenue on
investments. See Section IV: Financial Results.
Loans and grants
IDA's net commitments in FY23 were $34.2 billion, $3.5 billion lower than FY22 primarily due to lower grant
commitments. Out of the total net commitments, $27.0 billion were loan commitments and $7.3 billion were
grant commitments. FY23 net loan commitments included $1.2 billion approved under the IDA19 envelope due
to the extension of the closing date for the approval of IDA19 operations.
IDA's net loans outstanding increased by $13.2 billion to $187.7 billion as of June 30, 2023, from $174.5 billion
as of June 30, 2022, primarily due to net loan disbursements. See Section IV: Financial Results.
Development grant expenses were $3.9 billion in FY23 compared to $2.4 billion in FY22 due to higher
disbursements of conditional grants during the year as the conditions for recognition were met.
In billions of U.S. dollars
Net Commitments a
Net Loans Outstanding
250
Net Grant Commitments
Gross Disbursements
Grant Expense
Net Disbursements
200
Net Grant Disbursements
40
150
40
32
32
24
100
24
16
50
16
8
0
8
0
Jun
Jun
Jun
Jun
Jun
0
FY19 FY20 FY21 FY22 FY23
19
20
21
22
23
FY19 FY20 FY21 FY22 FY23
a.
Includes loans, grants, and guarantees
6


Net Investment Portfolio
In billions of U.S. dollars
As of June 30, 2023, the net investment portfolio was
$30.7 billion, compared with $39.6 billion as of June 30,
2022. The decrease was due to net cash outflows from
loan and grant disbursements, partially offset by cash
contributions
from
members.
See
Section
VII:
Investment Activities. The primary objective of IDA's
investment strategy is principal protection. As of
June 30, 2023, 78% of IDA's investment portfolio was
held in instruments rated AA or above (See Table 27).
Borrowing Portfolio
In billions of U.S. dollars
Market borrowings at fair value: As of June 30, 2023,
the market borrowings carried at fair value and the
related derivatives were $19.6 billion, a decrease of
$2.2 billion from June 30, 2022 primarily due to net
maturities during the year.
Market borrowings at amortized cost: As of June 30,
2023, the market borrowings carried at amortized cost
were $8.6 billion, an increase of $2.4 billion from
June 30, 2022 primarily due to a new issuance during
the year.
Concessional Partner Loans at amortized cost: As of
June 30, 2023, total borrowings from members ­
Concessional Partner Loans (CPL) were $7.2 billion, an
increase of $0.2 billion from June 30, 2022.
See Section VIII: Borrowing Activities.
Equity and Capital Adequacy
In billions of U.S. dollars
As of June 30, 2023, IDA's equity was $185.8 billion,
an increase of $7.1 billion from June 30, 2022. The
increase was primarily due to higher subscriptions and
contributions paid in. See Section IV: Financial Results.
The Deployable Strategic Capital (DSC) ratio, IDA's
Ratio in percentages
main capital adequacy measure, was 24.1% as of
June 30, 2023, above the zero percent policy minimum
and a decrease of 2.3 percentage points from 26.4% as
of June 30, 2022. The decrease was mainly due to the
increase in total resources required. See Section IX:
Risk Management.
7


SECTION II: OVERVIEW
IDA Replenishment
Generally, every three years, representatives of IDA's members2 meet to assess IDA's financial capacity and the
medium-term demand for new IDA financing. Members decide on the policy framework, agree upon the amount
of financing to be made available for the replenishment period, and commit to additional contributions of equity
that are required to meet these goals. The meetings culminate in a replenishment agreement that determines the
size, sources (both internal and external), and uses of funds for the replenishment period.
Twentieth Replenishment of Resources (IDA20)
IDA's Twentieth Replenishment, the replenishment period of FY23 through FY25, commenced on July 1, 2022,
with a financing envelope of $93.0 billion3, including $11.0 billion of IDA19 carry over, supported by
$23.5 billion of member contributions. IDA20 recognizes the need to help address the profound challenges faced
by IDA countries. IDA20 reaffirms the international community's commitment to scale up support to enable IDA
countries to respond to the effects of the coronavirus disease (COVID-19) pandemic crisis, recoup their
development losses, and resume progress toward the 2030 Sustainable Development goals. IDA20 supports the
world's poorest and most vulnerable countries to emerge on a development path in line with the Green, Resilient
and Inclusive Development (GRID) framework. IDA20 builds on the IDA19 special themes, with the
continuation of climate change, fragility, conflict, and violence (FCV), gender and development, jobs and
economic transformation and the introduction of human capital as a special theme in IDA20. In addition,
IDA20's policy package incorporates four cross-cutting issues: crisis preparedness (introduced in IDA20),
governance and institutions, debt, and technology.
IDA20 became effective in December 2022. See Notes to the Financial Statements for the year ended June 30,
2023, Note A -- Summary of Significant Accounting and Related Policies, Members' Subscriptions and
Contributions.
IDA Crisis Facility
In May 2023, IDA's Executive Directors approved Management's recommendation to establish a Crisis Facility
to scale up support for the world's poorest countries to address worsening development challenges due to the
overlapping global crises, particularly food insecurity and extreme climate events. IDA's Board of Governors
adopted the Resolution for the Crisis Facility on July 5, 2023. The Crisis Facility has two objectives: i) to provide
additional resources to IDA countries affected by Russia's invasion of Ukraine at a time of compounding,
overlapping global crises; and ii) to provide a mechanism for pooling and leveraging contributions to support
Ukraine, and to neighboring Moldova. This facility will be supported by member contributions and enhance
IDA's financing capacity in addition to IDA20.
Financial Business Model
IDA has financed its operations over the years with its own equity, including regular additions to equity provided
by member countries as part of the replenishment process. As a result of the strong support of member countries,
IDA has built up a substantial equity base of $185.8 billion as of June 30, 2023. Since FY18, IDA has shifted to a
hybrid financial model by introducing market debt into its business model. By prudently leveraging its equity and
2
IDA's members are owners and hold voting rights in IDA. Members do not, however, hold shares in IDA and are
therefore not referred to as shareholders. Payments for subscriptions and contributions from members increase IDA's
paid-in equity and are financially equivalent to paid-in capital in multilateral development organizations that issue
shares.
3
U.S. dollar amounts are based on IDA20 reference rate of USD/SDR 1.42934. The U.S. dollar amounts are provided for
reporting purposes only, as IDA's balance sheet is predominantly managed in Special Drawing Rights (SDR).
8


blending market debt with equity contributions from members, IDA has increased its financial efficiency, and
scaled up its financing to support the escalating demand for its resources to deliver on the following priorities:
· Provide concessional financing on terms that respond to clients' needs; and
· Ensure long-term financial sustainability of IDA's financial model through a prudent risk management
framework.
Currently, IDA's non-concessional and concessional lending, including grants, is primarily financed by IDA's
equity. As IDA's funding program expands under the hybrid financial model, a larger portion of lending will be
funded by market debt, together with member countries' contributions (equity). Funds not deployed for lending
are maintained in IDA's investment portfolio to supply liquidity for its operations.
Basis of Reporting
IDA prepares its financial statements in conformity with accounting principles generally accepted in the United
States of America (U.S. GAAP). IDA's reporting currency is the U.S. dollar. IDA's functional currencies are the
SDR and its component currencies of the U.S. dollar, euro, Japanese yen, pound sterling and Chinese renminbi.
Management uses net income as the basis for deriving adjusted net income, as discussed in Section IV: Financial
Results.
Adjusted Net Income
Adjusted Net Income (ANI), a non-GAAP measure, reflects the economic results of IDA's operations and is used
by IDA's management and the Board as a financial sustainability measure. ANI is defined as IDA's net income,
adjusted to exclude certain items. After the effects of these adjustments, the resulting ANI generally reflects
amounts which are realized, not restricted for specific uses, and not directly funded by members. For a detailed
discussion of the adjustments, see Section IV: Financial Results.
9


SECTION III: IDA'S FINANCIAL RESOURCES
IDA finances its operations mainly with its own equity, including regular additions to equity through members'
subscriptions and contributions as part of the replenishment process. Members' subscriptions and contributions
receivable for each replenishment are settled through payment of cash or deposit of nonnegotiable,
noninterest-bearing demand notes which become due throughout the replenishment period, generally three years.
The notes are encashed by IDA on a pro rata basis over a 9 to 11-year period which generally corresponds with
the disbursement period of the loans and grants.
IDA20 Funding
IDA's financing resource envelope available for lending and grant commitments is based on the long-term
outlook of IDA's financial sustainability. This takes into account the amount of member contributions and the
concessionality of the proposed financing to borrowers, market conditions, and capital adequacy requirements.
For the three-year funding cycle of IDA20, the agreed resource envelope totals $93.0 billion, supported by
$23.5 billion of member contributions.
Allocation of IDA20 Resources
Eligibility for IDA's resources is determined primarily by a member's relative poverty. Relative poverty is
defined as Gross National Income (GNI) per capita below an established threshold that is updated annually. For
FY24, the threshold is $1,315 (FY23: $1,255).
Table 1: IDA20 Allocations
In billions of U.S. dollars
Allocation
USD Equivalent a
Concessional financing
Country Allocation Envelope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$62.8
IDA Concessional Windows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21.4
Non-concessional financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6.3
Private Sector Window . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2.5
Total Allocation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$93.0
a.
U.S. dollar amounts are based on IDA20 reference rate of USD/SDR 1.42934. The U.S. dollar amounts are provided for
reporting purposes only.
10