December 14, 2007
HP-735

Paulson Statement on IDA Replenishment

Washington, DC--Treasury Secretary Henry M. Paulson, Jr. today issued the following statement on the announcement of the U.S. pledge to the International Development Association (IDA):

"Today's announcement demonstrates the United States' strong commitment to the poorest countries in the world and to IDA. I'd like to thank World Bank President Robert Zoellick for his leadership and the donor community for their contributions and commitment to fighting poverty. Our pledge of $3.7 billion is a 30 percent increase and represents the largest three-year increase since the Carter administration and helps finance President Bush's debt relief initiative for the poorest countries. The IDA15 replenishment furthers the World Bank's commitment to effective engagement in fragile states and improving results on the ground. I look forward to working with Congress to fund these commitments and I urge them to meet the President's budget request for paying back our arrears."