Lithuania to allocate EUR 10.5 mln to support the world's poorest countries

VILNIUS - Lithuania is going to allocate another 10.5 million euros to support the world's poorest countries. This will be the country's seventh contribution.

On Wednesday, the government approved the Finance Ministry's proposal, and now Minister Rimantas Sadzius will sign a commitment document on Lithuania's contribution to the 21st replenishment of the World Bank Group's International Development Association (IDA).

By becoming a member of the IDA, Lithuania committed to participate in such replenishments every three years, and the funds are used to support the world's poorest countries.

Lithuania became a member of the IDA in 2011, and as a donor country has contributed to the 15-20th replenishments of the IDA with various levels of contributions.

The new contribution from the Finance Ministry would be paid in three installments between 2026 and 2028.

The 52 donor countries will contribute around 23.7 billion US dollars.

The support will focus on climate change mitigation, assistance to fragile and conflict-affected countries, private sector attraction and job creation, human capital, gender equality, as well as crisis preparedness and resilience building.