At a meeting of the World Bank’s International Development Association (IDA), held in Stockholm on December 12-13, 2019, Bulgaria announced its intention to support the 19^th Replenishment of IDA with a national financial contribution.

Pursuant to a decision of the Bulgarian Council of Ministers Bulgaria pledged 2.7 million euro, subject to conclusion of an agreement with IDA and implementation of the national internal procedures, including a ratification by the Bulgarian parliament.

The announced Bulgarian financial contribution is an important step in the context of the invitation extended to the country to join IDA. In total, three non-member countries of IDA – Bulgaria, Bahrain and Uruguay, made pledges to the 19^th replenishment of the Association, which currently is the only one of the five organisations in the World Bank Group, in which Bulgaria is not a member.

IDA is one of the most important global institutions supporting the world’s poorest countries. IDA’s mission is to work to to reduce poverty by providing grants and loans for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.

The overall financial pledges of the IDA donor in Stockholm amounted to USD 82 billion. These funds are going to be used for financing of projects in the world’s poorest countries in the period from July 1, 2019, until June 30, 2023.