Government contributes $266 million to IDA

The Swiss government on Monday said it was contributing SFr420 million ($266 million) to help replenish the funds of the International Development Association, which belongs to the World Bank Group.

The Swiss government on Monday said it was contributing SFr420 million ($266 million) to help replenish the funds of the International Development Association, which belongs to the World Bank Group.

The contribution is part of the 12th replenishment round for the IDA’s Partnership for Poverty Reduction programme.

The IDA says the programme is aimed at reducing poverty by “increasing the availability of, and access to, basic social services and by creating a policy environment that promotes employment-generating, pro-poor economic growth.”

The Swiss government said it fully supported the IDA’s work, which helps reduce poverty and improve quality of life in many developing nations.

The government said the work had helped reduce child mortality worldwide by 50 percent, and average life spans were up from 55 to 64 years.

Much remained to be done, the Swiss government said, adding that there were still about 3 billion people who had to get by on the equivalent of less than $2 a day, and 1.3 billion on less than $1.

The authorities underlined that credits and loans were only approved for nations with efficient administrations that also accounted for how the money was spent. Human rights guarantees and the involvement of local people for anti-poverty programmes were also important criteria.

From staff and wire reports.