Japan announced a ¥376.7 billion (US$3.4 billion) commitment to the World Bank’s International Development Association (IDA) to support COVID-19 and climate change response in low-income countries.
The World Bank’s IDA provides assistance to 74 low-income countries by delivering vaccines, creating jobs lost during COVID-19, and supporting climate change responses. Japan’s Finance Minister Shunichi Suzuki emphasized the need for global solidarity during the COVID-19 crisis. Japan, with other donors, will contribute a total of US$23.5 billion to IDA. The World Bank, separately, announced the largest replenishment package of US$93.0 billion for the fund.