New Global Investments Will Help in Fight Against Extreme Poverty

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WASHINGTON–(BUSINESS WIRE)–Bread for the World applauded an agreement reached yesterday by a
coalition of more than 60 donor and borrower governments to commit a
record $75 billion to the International Development Association (IDA)
for the fight against extreme poverty. IDA is the World Bank’s fund for
the poorest countries.

“This agreement is an important milestone in the struggle against
extreme poverty, and will help improve the lives of billions of people,”
said Asma Lateef, director of Bread for the World Institute. “The funds
pledged will work to bring about greater stability in countries plagued
by fragility, conflict, and violence, and help them become more
resilient and self-sustaining.”

The funds will provide health and nutrition services to up to 400
million people, access to improved water sources, better governance in
30 countries, and immunizations for up to 180 million children. The
additional funding will also help address state fragility, the refugee
crisis, women’s empowerment, job creation, and climate change.

At the World Bank’s Human Capital Summit in October 2016, nine finance
ministers of countries receiving IDA funds committed to using their
funds specifically for nutrition and fighting stunting. Stunting is a
condition of chronic malnutrition that contributes to both individual
and national economic losses as well as poor health.

U.S. contributions to IDA convince other donors to give. In fact, every
dollar the U.S. contributes generates an additional $13 from other
donors. The return on investment on nutrition programs is even higher,
up to $16 for every dollar spent.

The U.S., like many other countries, made a great effort to keep funding
levels the same as previous commitments. Last year, the U.S. and 192
other countries set a goal of ending extreme poverty, hunger and
malnutrition by 2030. This agreement takes us a step closer towards that
goal.

“Helping countries become more stable and self-sufficient contributes to
our national security,” added Lateef. “We urge the incoming 115th
Congress to approve the United States’ contribution at the pledged
funding levels.”

Bread for the World (www.bread.org)
is a collective Christian voice urging our nation’s decision makers to
end hunger at home and abroad.

Contacts

Bread for the World
Chris Ford, 202-688-1077
cford@bread.org