Multilateral Agencies
The World Bank and the International Monetary Fund (IMF)
The
 World Bank shares DFID’s overarching ambition of eradicating poverty and
helping developing countries reach the
Millennium Development Goals. DFID works closely with the Bank by
discussing policy and jointly financing programmes. The Bank is
instrumental to global initiatives such as:
as well as servicing global funds such as:
The UK has considerable influence in the Bank thanks to our seat on the
Board, the financing we provide and our joint working in country and at
Headquarters level. The UK is the fourth largest shareholder in the Bank.
The Secretary of State for International Development, who is the UK’s
Governor to the Bank, represents the UK on the Development Committee, the main
ministerial forum for discussing Bank policies which meets each
Spring and
Autumn. Our Delegation in Washington, comprising DFID, Treasury and Bank of
England staff, has strong working relationships with the Bank.
In 2004 DFID published an
Institutional Strategy Paper  (261
kb) setting out
priorities for our work with the Bank over a three-year period and are planning
to develop a new strategy in 2008. DFID’s regular reports to Parliament
summarise the Government’s engagement with the Bank and provide an overview of
the institutional and policy developments at the Bank over the reporting period.
Read the current report
Working in Partnership with World Bank(767
kb) covering the period October 2005 to 30 June 2007.
Finance and the International Development Association (IDA)
DFID’s financial support to the Bank takes two forms:
- core financial support
to the
International Development Association (IDA), the arm of the bank that
provides grants and concessional loans to the world’s poorest countries; and
- through Trust Funds managed by the Bank.
IDA, formed in 1960, helps the world’s poorest people by providing: interest
free loans and grants for programmes that boost economic growth, reduce
inequalities and improve people’s living conditions.
IDA is one of the largest
sources of assistance to 80 of the world’s poorest countries, almost half of
which are in Africa. (How
IDA resources are allocated)
On 14 December 2007 the
Secretary of State announced
the UK’s largest ever contribution in support of the World Bank’s efforts to
reduce poverty around the
globe.
The UK's contribution to the
15th replenishment of IDA will be £2.134 billion
for the three years 2008/09-2010/11, this is a 49% increase compared to IDA 14 (the
fourteenth replenishment of the IDA). This
underlines the UK’s commitment to the fight against global poverty and to using
effective multilateral channels. The UK has for the first time, become the
largest contributor to IDA.
What
are IDA replenishments
Papers
for each of the meetings
World Bank Press Release
-
Record Funding for World’s Poorest Countries
The UK is a major contributor to Trust Funds managed by the Bank, these
cover a wide range of activities:
- to provide technical assistance, advice and research and also support to the
Bank’s own development operations and work programmes
support global initiatives such as:
In 2006, the UK was the second largest
trust fund donor, contributing approx £357m. In 2007, the UK was the largest
contributor, contributing approx £721m
Last updated 28 May 2008
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