Singapore’s Second Minister for Finance, Indranee Rajah, announced in Parliament on 4 February 2025 that Singapore will contribute up to US$87 million to the International Development Association’s (IDA) 21st replenishment. This marks a 24% increase from the previous contribution, reflecting Singapore’s commitment to supporting global development efforts.
The IDA, part of the World Bank Group, provides concessional loans and grants to the world’s least developed countries, including ASEAN members like Lao PDR and Cambodia. The IDA21 replenishment, covering July 2025 to June 2028, comes amid global challenges such as extreme weather events and health emergencies, which have disproportionately affected low-income countries.
Rajah highlighted that the COVID-19 pandemic had reversed three years of progress in reducing extreme poverty in IDA countries, with 651 million people facing food insecurity in 2023. The IDA21 aims to address these issues, with 45% of its commitments directed towards climate mitigation and adaptation, as well as health crisis readiness.
Singapore’s increased contribution is part of a collective effort by IDA donors to expand the replenishment envelope to £100 billion, the largest in IDA’s history. Rajah emphasised the importance of supporting vulnerable nations, noting Singapore’s past benefits from World Bank loans and expertise during its developmental years.
The IDA’s hybrid financing model, which multiplies contributions by four, means Singapore’s pledge will mobilise significant financial support for eligible countries. The motion for this increased subscription was moved by Rajah in Parliament, underscoring Singapore’s role as a responsible global partner.
