Africa, in particular, has greatly benefited from World Bank’s lending, as governments across the continent are actively accelerating infrastructural development across various regions.
Since its establishment in 1960, the International Development Association (IDA), the World Bank’s lending arm, has provided a total of over US$287 billion in funding to support development in the world’s poorest countries, with a focus on reaching remote and underserved areas of the continent.
Over the IDA’s lifetime, African countries have accounted for approximately 73% of total IDA disbursements, totaling just over US$210 billion. The second region with the highest amount received from the IDA is East Asia with $41.8 billion accounting for 14.5% of the lending.
Europe and central Asia received $17.5 billion representing 6.1%, Latin America and the Caribbean received $11.2 billion (3.9%) and the middle east received the least amount – $7.1 billion representing 2.5% of the lending.
On a country level, eight of the top 10 recipients of IDA funding are African countries – with Vietnam (US$18.5 bn) and China (US$10.2 bn) being the only two non-African countries.
The list below shows the top 10 countries that were the biggest beneficiaries of IDA funding from 1961, to 2024;
| Rank | Countries | Amount (billion $) |
|---|---|---|
|
1 |
Ethiopia |
23.4 |
|
2 |
Nigeria |
18.8 |
|
3 |
Vietnam |
18.5 |
|
4 |
Tanzania |
16.7 |
|
5 |
Kenya |
14.8 |
|
6 |
DR Congo |
11.4 |
|
7 |
Ghana |
11.2 |
|
8 |
China |
10.2 |
|
9 |
Uganda |
9.8 |
|
10 |
Mozambique |
9.3 |
While some experts have raised concerns about the persistent borrowing habits of certain countries, governments have justified this approach, arguing that Africa’s quest for economic breakthrough depends on substantial funding, which necessitates borrowing.
However, the pressing issue now is the pervasive corruption that has severely undermined the continent’s development, leaving a legacy of abandoned and dilapidated infrastructure and facilities that hinder progress.
