CALL FOR FUNDING FOR IDA - the INTERNATIONAL DEVELOPMENT ASSOCIATION

April 15, 2007-Wealthy nations have been called on to boost funding for the World Bank's concessional arm, IDA - the International Development Association - which provides financing to the world's poorest countries.

The call came from African ministers attending the weekend Spring Meetings of the Bank/IMF.

Ghana's Minister of Finance and Economic Planning, Kwadwo Baah-Wiredu, said just as slavery was abolished so too could poverty.

He said donors needed to replenish IDA to make up for lost revenue as a result of debt relief and increase funding in general so African nations like Ghana could move their economies forward.

Baah-Wiredu said IDA funds have helped Ghana in its planning and investment in education, health, roads, water, and sanitation and also in food storage for export as well as the energy sector.

Liberia's Finance Minister, Antoinette Sayeh echoed the calls for donors to fund IDA in the next round, saying the funding would be critical to help her country consolidate its peace.

She said IDA was “exceptional in making available to Liberia pre-arrears clearance grants - significant amounts - that have helped us to start the arduous task of repairing our infrastructure that has been completely devastated by the 14-15 years of civil war.”

“So far it's helped us to re-build some roads and in process creating some jobs in the process. Of course, roads are critical from a perspective the economic impact of roads but also from the political impact - of reuniting a country that has been split apart and inaccessible.

“So having roads is important politically, socially and economically and IDA has made that a priority.”

Malawi's Deputy Minister of Finance, Ted Kalebe, said funding from the World Bank through IDA has had a major impact in Malawi - particularly programs like the Social Action Fund which has delivered services to people in rural communities.

“Malawi has gone through a lot of problems over the past 10 - but two years, because of mismanagement of resources,” he said. “We now think that the government which is in place is more serious now in terms of bringing development to the people and to do that it needs more resources from its partners, like the World Bank.”