World Bank collects record amounts for poorest countries

The World Bank has raised a record to support the world's poorest countries. A total of $ 82 billion (€ 74 billion) came from 52 countries and from bonds in the financial markets - and will go to the International Development Organization (IDA).

The money will also help countries to meet the "challenges of climate change", said World Bank President David Malpass.

The IDA uses this to finance interest-free or low-interest loans for development projects. 74 countries are expected to benefit from this, and $ 53 billion will go to Africa alone. A total of seven billion dollars more was raised than three years ago. It is the largest sum that has ever flowed to the IDA, said Malpass.

Ethiopia receives development aid

The Ethiopian government announced that it had pledged $ 9 billion in development aid programs for ambitious economic reforms. The World Bank had previously committed $ 3 billion and the International Monetary Fund $ 2.9 billion.

The reforms of the head of government and Nobel Peace Prize winner Abiy Ahmed aim in particular to counter high inflation and the lack of foreign exchange. Ethiopia has seen rapid economic growth recently. Nevertheless, it remains one of the poorest countries in the world.