NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

In a powerful demonstration of global solidarity, leaders from around the world gathered in Seoul, South Korea, on Dec. 5-6, 2024, for the International Development Association (IDA) ’s 21st replenishment cycle (IDA21). IDA drives transformative change in the world’s most under-resourced countries through low-interest loans and grants, about 20% of which are grants that do not need to be repaid. This ensures essential support without burdening nations with unmanageable debt. Read more in our explainer here.

Photo courtesy of USAID U.S. Agency for International Development.