World Bank Raises Record $100 Billion for Aid to Poorest Nations
- Bank chief Banga meets goal of setting record fundraising
- Two thirds of IDA lending over past decade has gone to Africa
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The World Bank received pledges to deploy a record of $100 billion via its unit focused on low-interest loans and grants to the poorest nations.
The total figure to fund its International Development Association, whose resources must be replenished every few years, builds on pledges from donor countries announced this week totaling $24 billion, the bank said in a statement.