World Bank: Finance

Foreign, Commonwealth and Development Office written question – answered at on 14 February 2025.

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Photo of James McMurdock James McMurdock Reform UK, South Basildon and East Thurrock

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether his Department has plans to increase funding to the World Bank.

Photo of Anneliese Dodds Anneliese Dodds Minister of State (Foreign, Commonwealth and Development Office), Minister of State (Minister for Women and Equalities) , Minister of State (Development)

The UK pledged £1.98 billion to the 21st replenishment (IDA21) of the International Development Association (IDA) which works with the poorest countries globally, in late-November 2024. IDA21 runs between July 2025 and ends by June 2028. IDA's three-year replenishment cycle means donors are next scheduled to pledge in 2027. In April 2024, the UK also announced a contribution of £100 million in Hybrid Capital to the International Bank of Reconstruction and Development (IBRD), an arm that provides development finance to middle income countries. The UK remains supportive of proposals for a future IBRD general capital increase as part of wider efforts to meet the UN's Sustainable Development Goals.

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