GLOBALink | China's strong support for IDA "highly appreciated": World Bank official

WASHINGTON, Dec. 21 (Xinhua) -- A World Bank senior official has said that China has been increasingly engaged as a donor in the International Development Association (IDA), the bank's fund for the poorest countries, noting that its strong support is highly appreciated.

Looking back at China's relationship with the World Bank during the past four decades, Axel van Trotsenburg said "it's a very interesting story."

The World Bank's IDA, established in 1960, helps the world's poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people's lives.   

The World Bank recently announced a 93-billion-U.S.-dollar replenishment package of the IDA to help the world's 74 poorest countries, focusing on their recovery from the COVID-19 crisis.

Amid the pandemic, the World Bank not only spent much more on health emergencies, but also boosted its support in the social and education sector, as many people lose jobs and go hungry, and many kids can't go to school due to lockdowns.

Produced by Xinhua Global Service