The World Bank is set to dramatically increase the amount of aid it issues in grants to its poorest borrowers, the lender said on Friday, amid US pressure and concerns over countries debt burdens.
World Bank Vice President Geoffrey Lamb told a forum on Thursday that major donors were close to an agreement on boosting grants to 30 percent of the banks poor country aid from a current 19 percent.
The World Bank said the proposal would increase the grant allocation of its International Development Association, or IDA, that provides aid to 81 developing countries including 39 in Africa. IDA commitments totaled 7 billion US dollar in 2003. The change would be effective on July 1.
Kilde: www.worldbank.org
