Ghana has emerged as the seventh-largest beneficiary of International Development Association (IDA) funding, the concessional arm of the World Bank. Since joining the program in 1961, the country has received a total of US$11.2 billion to support its development agenda.
Ethiopia leads the global rankings with US$23.4 billion, followed by Nigeria (US$18.8 billion) and Vietnam (US$18.5 billion). China ranks just below Ghana in eighth place, with funding of US$10.2 billion. Notably, eight out of the top ten beneficiary countries are from Sub-Saharan Africa, underscoring the region’s critical role in IDA’s mission.
Since its establishment in 1960, the IDA has disbursed over US$287 billion globally, focusing on alleviating poverty and fostering development in the world’s poorest and most underserved regions. Africa stands out as the largest recipient of these funds, receiving approximately US$210 billion, which accounts for 73% of the total.
In terms of regional distribution, East Asia comes second, receiving US$41.8 billion (14.5%). Europe and Central Asia follow with US$17.5 billion (6.1%), while Latin America and the Caribbean have received US$11.2 billion (3.9%). The Middle East received the least funding, totalling US$7.1 billion (2.5%).
This substantial financial support highlights IDA’s commitment to bridging developmental gaps, particularly in Sub-Saharan Africa, and ensuring resources reach the areas most in need. Ghana’s position in the rankings reflects the country’s significant partnership with the World Bank to address pressing socio-economic challenges and promote sustainable growth.
Story by: Mercy Addai Turkson
