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Country support: World Bank commitments reached 47,212 billion FCFA in 2021

12/08/2021
Categories: General Information

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

billion FCFA.

The statements at the end of the Boards of Directors highlighted the strong financial position of World Bank Group entities, the strong demand for financing from client countries, particularly as a result of COVID-19 and increasing poverty, and the continued support of shareholders and capital markets. According to the institution's statement, a significant part of the 2021 commitments supported measures related to the health and economic impacts of COVID-19. In response to the global epidemic, World Bank Group commitments reached $84.3 billion in fiscal year 2021, 15% more than in fiscal year 20. World Bank Group support in fiscal year 2021 included $4.7 billion in newly approved vaccine funding for 54 countries. Despite the high level of commercial activity, the World Bank Group continued to maintain fiscal prudence, with a reduction in gross administrative expenditure in fiscal year 2021 compared to fiscal year 2020.

IBRD's net commitments increased by 9% to $30.5 billion in fiscal year 2021, according to the document published on the World Bank Group website. Gross disbursements increased by 17% to $23.7 billion. IDA's net commitments amounted to $36.0 billion, 19% more than the previous year. Net disbursements in fiscal year 21 were $16.5 billion, an increase of 9% over the previous year, bringing the net loan outstanding to $177.8 billion, an increase of 10% compared to fiscal 2020. For its part, IFC committed $31.5 billion, an increase of 11% over the previous year, including 37% in low-income, fragile and conflict-affected states. Long-term financing commitments reached a record $23.3 billion, including $12.5 billion for IFC's own account and $10.8 billion for core mobilization. MIGA totaled an overall commitment of $5.2 billion in fiscal year 21. Fiscal year 2021 commitments include $3.5 billion in guarantees under the Agency's Accelerated COVID-19 Response Mechanism to help private sector investors and lenders in emerging economies and developing countries deal with the impacts of the pandemic

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