The Development Finance Resource Mobilization Department (DFiRM) is responsible for the replenishment and stewardship of the International Development Association (IDA), the Bank’s principal facility for providing highly concessional resources to the world’s poorest countries. The department is the institutional focal point for replenishment of IDA resources, which takes place every three years.
DFiRM manages the allocation of IDA resources to eligible countries and priorities and monitors the implementation of IDA policy mandates within the Bank. IDA resources are highly concessional and are provided in the form of grants and zero to low-interest credits (loans). DFiRM also conducts policy research on emerging issues in the international aid architecture.
DFiRM is also responsible for managing IDA’s financial operations which include: developing financial projections for each replenishment; managing its liquid assets; implementing IDA’s hedging strategy; setting various financial parameters of IDA; managing payments and encashments from IDA’s members, including donor commitments as well as IDA capital transactions related to all IDA members; and administering the financing of IDA’s Multilateral Debt Relief Initiative.