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16.01.2025 Statement by Denmark at the informal briefing on the outcome of the 21st replenishment of the World Bank's International Development Association (IDA 21) 

Who H.E. Erik Laursen, DeputyPermanent Representative of Denmark to the United Nations
Who H.E. Erik Laursen, DeputyPermanent Representative of Denmark to the United Nations
When 16.01.2025

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Thank you Chair,

Denmark would like to thank the President of the General Assembly and the ECOSOC President for arranging this briefing today. And also thank you to you Mr. van Trotsenburg for your presentation on the excellent work that both IDA and the World Bank Group in general are doing in low and middle-income countries.

Denmark is a proud supporter of the World Bank which – together with the UN – is at the core of multilateralism. If we are to implement the SDGs and the Paris Agreement, the World Bank plays a crucial role. And collaboration between the UN and the World Bank is pivotal.

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We would like to warmly congratulate the World Bank on reaching a historic high replenishment with more than 100 billion dollars mobilised. This is a major achievement. It will have a crucial impact for the 1.9 billion poor people that IDA serves. And it is a tangible indication that Member States are dedicated, also to follow up on commitments made in the Pact for the Future.

The Danish Prime Minister announced our IDA pledge here at the UN in September at the Summit of the Future as a sign of willingness to deliver on the Pact for the Future.

Our pledge amounts to a total of 3.3 billion Danish kroner, approximately 490 million US dollars. And it is a 40 pct. increase. We are also happy to hear that other member states decided to contribute with an equal level of ambition. As described by Mr. van Trotsenburg, IDA has an unmatched ability to multiply every tax dollar contributed nearly four times. This makes IDA an amplifier of global solidarity and sustainable development.

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A next important step on delivering on the Pact for the Future is the upcoming fourth conference on Financing for Development in Spain. Here we will have to bring forward concrete and credible solutions to unlock more finance and deepen reform.

With the Evolution agenda, the World Bank has embarked on a far-reaching journey to become a better and bigger bank delivering more impact at greater scale for their clients. It is a difficult, but necessary journey if we are to ensure a multilateral system that delivers on today’s challenges.

The World Bank’s bold steps on reform is also why Denmark was one of the first countries last year to pledge financial support to the Evolution agenda through a purchase of hybrid capital. The funds generated will help tackle global challenges such as climate change and fragility. We hope additional countries will show financial support to the Evolution agenda this year.

As we prepare for FfD4 in Seville, we will need more innovative thinking and an even stronger collaboration across the UN, the World Bank and Member States – both inside and outside of these meeting rooms.

Thank you so much.

 

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