Ulkoministeriö / Utrikesministeriet

MFA: Finland allocates EUR 125 million to support the world's poorest countries

Share

Finland will contribute EUR 125 million to the replenishment of the International Development Association (IDA), which is part of the World Bank Group. The replenishment process was brought forward to help the world’s poorest countries affected by the COVID-19 pandemic.

All most 50 officials from donor governments (IDA Deputies) and representatives of developing countries have reached agreement on the replenishment of the International Development Association (IDA) for 2022–2025. The IDA Deputies’ total funding amounts to approximately USD 93 billion, of which development cooperation funds account for about USD 24 billion. The rest of the financing package consists of developing countries’ repayments of previous loans, as well as market financing.

IDA, which is part of the World Bank Group, gives concessional loans and grants to the poorest developing countries. It promotes sustainable development and the reduction of poverty and inequality worldwide. IDA focuses on the rights and position of women and girls and persons with disabilities, as well as on combating climate change and adapting to it. IDA also supports job creation, livelihoods and better wellbeing in developing countries as well as stronger governance and tax collection capacity.

“IDA is a multilateral financial institution, through which Finland can influence the content of a significant development funding package. In the negotiations, Finland has emphasised mitigation of and adaptation to climate change and questions related to equality and disability,” says Minister for Development Cooperation and Foreign Trade Ville Skinnari.

Donors meet every three years to agree on the replenishment of IDA resources. Due to the COVID-19 pandemic, the new replenishment process was brought forward by one year to support developing countries affected by the pandemic. In the previous replenishment, Finland supported IDA by EUR 114 million, which means that the grant element pledged by Finland will increase by about 10 per cent.

Inquiries:

Tiina Vainio, Special Adviser to the Minister for Development Cooperation and Foreign Trade,
+358 50 524 6559, tiina.vainio@formin.fi

Pekka Hirvonen, Director, Unit for Development Finance and Private Sector Cooperation, Department for Development Policy, tel. +358 295 351 407, pekka.hirvonen@formin.fi

The email addresses of the Ministry for Foreign Affairs are in the format firstname.lastname@formin.fi

Keywords

Links

About Ulkoministeriö / Utrikesministeriet

Ulkoministeriö / Utrikesministeriet
Ulkoministeriö / Utrikesministeriet
Laivastokatu 22, PL 176
00023 Valtioneuvosto

0295 16001http://um.fi

Subscribe to releases from Ulkoministeriö / Utrikesministeriet

Subscribe to all the latest releases from Ulkoministeriö / Utrikesministeriet by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Ulkoministeriö / Utrikesministeriet

Ministry for Foreign Affairs has solved suspected espionage case28.1.2022 15:20:55 EET | Press release

Finnish diplomats have been targets of cyber espionage by means of the Pegasus spyware, developed by NSO Group Technologies, which has received wide publicity. The highly sophisticated malware has infected users’ Apple or Android telephones without their noticing and without any action from the user’s part. Through the spyware, the perpetrators may have been able to harvest data from the device and exploit its features.

Ulkoministeriö on saanut selvitettyä siihen kohdistuneen vakoilutapauksen28.1.2022 13:07:02 EET | Tiedote

Suomalaisiin diplomaatteihin on kohdistettu kybervakoilua paljon julkisuutta saaneella NSO Groupin Pegasus -vakoiluhaittaohjelmalla. Kyseessä on erittäin kehittynyt haittaohjelma, joka on pystytty tuomaan käyttäjän Apple- tai Android-puhelimeen hänen huomaamattaan ja ilman käyttäjän toimenpiteitä. Vakoiluohjelma on voinut mahdollistaa hyvin laajasti puhelimessa olevan tiedon ja sen ominaisuuksien hyväksikäytön.

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom