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WB: Romania joins World Bank’s fund for the poorest, contributing to positive change for world’s neediest

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Minister Delegate for Budget and Romania’s Governor of the World Bank Group (WBG), Liviu Voinea, Saturday signed on behalf of Romania the Articles of Agreement of the International Development Association (IDA), a press release sent from Washington by the World bank informs. World Bank Vice President for Europe and Central Asia Laura Tuck was joined by World Bank Vice President Joachim von Amsberg, Romanian officials, and World Bank staff for the signing ceremony in Washington, DC. The signing brings IDA’s membership to 173.

Romania’s membership in IDA—a global coalition of development partners committed to accelerating the fight against extreme poverty—is an important step towards enhancing its global reach. The membership underscores the increasing role emerging economies are playing in the development of poorer countries, harnessing their resources, knowledge, and experience in lifting people out of poverty.

Together, the development partners that make up IDA bring together unique perspectives to help the world’s poorest countries tackle deep-seeded development challenges across a range of sectors, with a focus on climate change, gender, conflict and fragility, and inclusive growth.

IDA is the World Bank’s main instrument for achieving the goals of ending extreme poverty and boosting shared prosperity in the world’s 82 poorest countries—home to nearly one billion people living on less than $1.25 per day. Despite difficult circumstances in many countries, the global community agreed in December 2013 to accelerate the fight to end extreme poverty by committing a record amount of financing for IDA—more than $52.1 billion. This commitment is testament to development partners’ belief that an investment in the future of the poorest countries is an investment in the future prosperity of all countries.

The signing is part of Minister Voinea’s agenda while heading the delegation of Romania at the Spring Meetings of the International Monetary Fund (IMF) and the WBG on April 8-13.

Each Spring, government officials, journalists, civil society organizations, and invited participants from academia and the private sector, gather in Washington, DC for the IMF-WBG Spring Meetings. At the heart of the gathering are meetings of the IMF's International Monetary and Financial Committee and the joint World Bank-IMF Development Committee, which discuss progress on the work of the IMF and the WBG. Seminars, regional briefings, press conferences, and other events focused on the global economy, international development, and the world’s financial markets are also featured.



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