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Support to countries: World Bank commitments reached CFAF 47212 billion in 2021

12/08/2021
Categories: General Information

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The Boards of Directors of the World Bank Group have approved the audited financial statements for the period from July 1, 2020 to June 30, 2021. The Group's commitments reached $84.3 billion in fiscal 2021, or CFAF 47212.11  billion.

 

The board statements highlighted the sound financial position of World Bank Group entities, the strong demand for financing from client countries, particularly due to COVID-19 and rising poverty, and continued support from shareholders and capital markets. According to the institution's press release, a significant part of the commitments for the 2021 financial year supported measures related to the health and economic impacts of COVID-19. In response to the global outbreak, The World Bank Group's commitments reached $84.3 billion in FY2021, 15% more than FY20.  World Bank Group support in FY2021 included $4.7 billion in newly approved vaccine financing for $54 billion country. Despite the high level of business activity, the World Bank Group continued to maintain fiscal prudence, with a reduction in gross administrative expenses in fiscal 2021 compared to fiscal 2020.

THE IBRD's net liabilities increased 9% to $30.5 billion in fiscal 2021, according to the document published on the World Bank Group's website. Gross disbursements increased 17% to $23.7 billion. IDA's net liabilities were $36.0 billion, up 19% from the previous year. Net disbursements in FY21 were $16.5 billion, an increase of 9% over the previous year, bringing the net outstanding loan to $177.8 billion, an increase of 10% over fiscal 2020. For its part, IFC committed $31.5 billion, an increase of 11% over the previous year, of which 37% was in low-income,  fragile and conflict-affected states. Long-term financing commitments reached a record $23.3 billion, including $12.5 billion for the IFC's own account and $10.8 billion for core mobilization. MIGA totalled an overall commitment of $5.2 billion in FY21. Commitments in fiscal 2021 include $3.5 billion in guarantees under the Agency's COVID-19 Accelerated Response Facility to help private sector investors and lenders in emerging economies and developing countries cope with the impacts of the pandemic.

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