Where Does the Money Go

IBRD and IDA lending commitments increased to $20 billion, reflecting highest-ever lending levels by IDA, which reached $9 billion for 158 new operations. IDA's strong lending program was driven by record lending to Africa, with $4.1 billion, constituting 45 percent of total IDA commitments.

The International Bank for Reconstruction and Development
In the fiscal 2004 year, IBRD provided $11 billion in loans, in support of 87 projects in 33 countries.

Latin America and the Caribbean received the highest level of IBRD lending, with $5 billion or 45 percent of total IBRD commitments. That was followed by lending to Europe and Central Asia with $3 billion and East Asia and Pacific with $1.7 billion.

Public administration, including law and justice, received the highest volume of IBRD lending with $2.7 billion. The significant amount of lending in the public administration sector reflects the Bank's focus on assisting its clients to improve development strategies, implement reform policies, and build institutional capacities. Lending to the transportation sector was second, with $2.5 billion and health and social services with $1.8 billion.

The prevalent themes correlated to the sector lending, with a major focus on strengthening the financial and private sector regulatory framework and improving public sector governance. Human development, economic management, and urban development were also supported.

The share of adjustment lending by IBRD was slightly higher than the 2003 fiscal year.

The International Development Association
IDA commitments in fiscal 2004 reached $9 billion for 158 operations, consisting of $7.3 billion in credits and $1.7 billion in grants. IDA also provided a guarantee for $70 million.

The volume of IDA commitments in fiscal 2004 represents a record in the history of IDA.

The largest share of IDA resources was committed to Africa, with $4.1 billion, making up 45 percent of total IDA commitments.

South Asia and East Asia and Pacific followed with $3 billion and $0.9 billion respectively. Among countries, Bangladesh, the Democratic Republic of Congo, India, Pakistan and Vietnam represent the largest single recipients.

About 19 percent of total IDA financing was provided in the form of grants. The poorest countries received $264 million; debt-vulnerable countries, $529 million; post-conflict countries, $536 million; HIV/AIDS projects and those with HIV/AIDS-related components, $381 million and natural disaster reconstruction projects, $2 million.

The leading sector receiving IDA support was public administration, including law and justice, with $2.3 billion, or 24 percent of the total. Significant support was also provided to the health and social services and transportation sectors, each representing $1.2 billion or 14 percent of the total.

The two most prominent themes were public sector governance and financial and private sector development. They each accounted for about 19 percent of IDA commitments. Major attention was also paid to human development with 17 percent, social development and gender with 13 percent and rural development with 10 percent.

Source: Annual Report 2004

Last updated September 29, 2004