The World Bank estimates that the global pandemic could push between 55 and 63 million people into extreme poverty in IDA (the International Development Association) countries. With IDA being the largest source of concessional loans and grants for the world’s poorest countries, its upcoming replenishment cycle (IDA20) is a key opportunity to promote a more inclusive recovery—and, in particular, one that reaches and benefits women and girls disproportionately hurt by the COVID-19 crisis.

Against the backdrop of contracting fiscal space—in both donor and recipient countries—and competing priorities for IDA resources, establishing a robust agenda to promote gender equality for IDA20 is an imperative. IDA has sustained around $35 billion a year in loans and grants throughout the COVID-19 period and is aiming to maintain that level for at least the first two years of IDA20. But this will require achieving a larger financing envelope for IDA20, which can be done through a combination of donor grants and market borrowing.

Paper by the Center for Global Development