The Bretton Woods Committee applauds Congressional passage of the on March 23 which authorizes a clean three-year replenishment of $3.291 billion to fund the World Bank’s International Development Association (IDA), and appropriates $1.097 billion in FY2018. The bill’s passage marks a victory toward ensuring the World Bank can continue its work in the world’s poorest countries.
The Bretton Woods Committee worked diligently to shore up U.S. Congressional support for funding at these levels through multiple avenues. The Committee sent a to Congressional Appropriators and Authorizers making the case that IDA funding contributes to U.S. national security interests, enhances U.S. global leadership, and provides the highest development impact for the cost. The Committee mobilized grassroots efforts through and Congressional calling campaigns. Finally, the Committee’s Legislative Task Force met with the staffs of key members of Congress to make the case for a fully funded IDA18. The Committee’s efforts helped prevent a near 50% spending cut to IDA as initially passed by the House of Representatives Appropriations Committee and assisted in securing the clean three-year Congressional authorization for the IDA18 replenishment.
Thank you to all Bretton Woods Committee members and friends who supported our IDA18 outreach efforts, and special congratulations to our Legislative Task Force, who graciously dedicated their time and effort to support funding for the World Bank: Jim Kolbe, Tony Fratto, Bill Frymoyer, Whitney Debevoise, Kent Hughes and Dan Runde!