Ghana has emerged as the seventh-largest recipient of World Bank funding globally, with a total of $11.2 billion disbursed by the International Development Association (IDA) between 1961 and 2024.

Ethiopia tops the list, having received $23.4 billion, followed by Nigeria with $18.8 billion, and Vietnam with $18.5 billion. China, meanwhile, ranks eighth, with $10.2 billion in IDA funding.

Notably, eight of the top ten beneficiary nations are in Sub-Saharan Africa.

The IDA, a key financing arm of the World Bank established in 1960, focuses on supporting development in the world’s poorest nations, often targeting underserved and remote regions. Over its lifetime, the IDA has disbursed more than $287 billion globally.

Africa has been the largest recipient region, accounting for 73% of total IDA disbursements, equivalent to over $210 billion. East Asia follows with $41.8 billion, representing 14.5% of the funding.

Other regions include Europe and Central Asia with $17.5 billion (6.1%), Latin America and the Caribbean with $11.2 billion (3.9%), and the Middle East, which received the least at $7.1 billion (2.5%).

The IDA’s funding aims to foster economic development, reduce poverty, and improve infrastructure across the globe.

Source:TheDotNews