Demand for World Bank Group Financing Rises to Nearly $64 billion in Fiscal Year 2018Record increases in human development, climate finance, and IDA support

With rapid growth, the Government of Mongolia introduced a number of programs to improve the country’s education system, especially rural primary education. Murun County, Mongolia. Photo: Khasar Sandag / World Bank
“Demand continues to rise for our finance, expertise, and innovation,” World Bank Group President Jim Yong Kim said. “In the last fiscal year, our shareholders improved our ability to meet that demand with a historic $13 billion capital increase, which will help us address the most critical challenges of our time, and help our client countries – and their people – reach their highest aspirations. The capital increase was a strong vote of confidence in the World Bank Group’s staff, who work tirelessly across the globe to end extreme poverty and boost shared prosperity.”

World Bank Group commitments to developing countries hit nearly $64 billion in fiscal year 2018, which ended June 30, with record increases in human development, climate finance, and IDA support.

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Human Development lending—which spans education; health, nutrition and population; social protection; and jobs—increased by a record 74 percent.  Its share in the World Bank’s total commitments for the year saw an unprecedented increase, going to 25.2 percent in FY18 from 16 percent in FY17. This significant shift demonstrates increased demand by countries to invest in building human capital, reflecting the priorities of the Human Capital Project, an ambitious effort to accelerate more and better investments in people that was announced at the World Bank Group’s 2017 Annual Meetings.

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