A record package of $82 billion committed for the fight against extreme poverty

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Focus on jobs, gender, fragility, climate, and good governance

December 13, 2019 — A global coalition of development partners announced today their commitment to maintain momentum in the fight against extreme poverty, with $82 billion for the International Development Association (IDA), the World Bank’s fund for the poorest. The financing, which includes more than $53 billion for Africa, will help countries invest in the needs of their people, boost economic growth, and bolster resilience to climate shocks and natural disasters.

“Today’s commitment by our partners is a strong sign of their support for the urgent mission to end extreme poverty and promote shared prosperity in the poorest and most vulnerable countries,” said World Bank Group President David Malpass. “We are grateful for their continued trust in IDA and its ability to deliver good development outcomes for people most in need.”

Two thirds of the world’s poor—almost 500 million people—now live in countries supported by IDA. The funding will allow IDA to reinforce its support to job creation and economic transformation, good governance, and accountable institutions. It will also help countries deal with the challenges posed by climate change, gender inequality, and situations of fragility, conflict, and violence, including in the Sahel, the Lake Chad region, and the Horn of Africa.

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IDA will renew its support to facilitate growth and regional integration, including investments in quality infrastructure. The IDA Private Sector Window will continue enabling the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to mobilize private sector investment in challenging environments, a critical component to meet the scale of financing needed in developing countries.

IDA’s resources are replenished every three years; this 19th replenishment will cover the period from July 1, 2020, to June 30, 2023. The new funding will support projects that deliver life-changing results, including:

  • Essential health, nutrition, and population services for up to 370 million people;
  • Safe childbirth for up to 80 million women through provision of skilled health personnel;
  • Enhanced access to broadband internet for 50 to 60 million people;
  • Immunizations for up to 140 million children;
  • Better governance in up to 60 countries through improved statistical capacity;
  • An additional 10 GW of renewable energy generation capacity.
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To promote greater equity and economic growth, IDA will also tackle broader development challenges, such as enhancing debt sustainability and transparency; harnessing and adapting to transformative digital payment technology; promoting inclusion of those living with disabilities; strengthening the rule of law; and investing in human capital, including efforts to achieve universal health coverage.

Along with these priority areas, IDA will sharpen its focus on crisis preparedness, resilience building, and supporting countries in their national climate-related action plans.

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The successful replenishment of IDA has been supported by contributions from 52 governments; additional countries are expected to pledge in the near term. It is also supported by repayments of outstanding IDA loans, contributions from the World Bank, and financing raised from the capital markets. This unique financial model enables IDA to achieve greater development impact than any other organization.

The International Development Association (IDA) is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries. IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world. Since 1960, IDA has provided more than $391 billion for investments in 113 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity in the world’s poorest countries. Seventy-four countries, including low-income countries, small states, and island economies, are eligible to benefit from this replenishment package. Learn more online: IDA.worldbank.org. #IDAworks

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A record package of $82 billion committed for the fight against extreme poverty - Brand Spur

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation...

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


A record package of $82 billion committed for the fight against extreme poverty - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


A record package of $82 billion committed for the fight against extreme poverty - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

A record package of $82 billion committed for the fight against extreme poverty - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

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It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

A record package of $82 billion committed for the fight against extreme poverty - Brand Spur
- Advertisement -
spot_imgspot_img

Latest News

Emerging Stronger with Adaptable HR: Alight Solutions’ State of HR Transformation Study 2021

SINGAPORE - Media OutReach - 12 May 2021 - After releasing three insightful editions, we are delighted to bring to you the fourth edition of the Alight Solutions' State of HR Transformation Study in partnership with People Matters.


A record package of $82 billion committed for the fight against extreme poverty - Brand Spur


The study, which was launched during the People Matters TechHR SEA, is themed around Emerging Stronger and sheds light on how some organisations are ahead of the curve in emerging stronger. A key finding was the positive sentiment that organisations in Asia have for the coming 12 months. Amongst them, adaptable organisations have reported that they are 1.5 times more likely to see positive growth in revenues and profits. The HR function has certainly proved its mettle in this case and shown how well it can manage disruption and guide organisations to emerge stronger.

Last year, Alight brought forward the construct of Adaptable HR as a guide to navigating the increasingly uncertain business and talent landscape in the midst of the biggest crisis faced. Exploring the anchors of adaptability in HR functions, Alight has consistently observed that HR Operating Model (interchangeably referred to as HR Service Delivery or Business Model) plays an important role in driving confidence on execution and productivity. When complemented with the right HR technology strategy, the results are amplified further.

Talking about this year's study, Vikrant Khanna (Sr. Director and Advisory Lead at Alight Solutions), exclaimed, "We are delighted to see how Adaptable HR function led organisations are recovering from the impact of the pandemic. While there is still quite a bit of uncertainty in the environment, the construct of Adaptable HR acts as a lighthouse for organisations to emerge stronger."

This year, as we continue to face new challenges and uncertainties posed by the pandemic, Alight found that organisations with Adaptable HR are emerging stronger to:


A record package of $82 billion committed for the fight against extreme poverty - Brand Spur


Lead in being digital: Adaptable HR report twenty times the NPS on technology satisfaction as compared to market averages. This is due to the digital success enabled by leveraging HR Technology to complement the HR Operating Model. In addition, 50% of Adaptable HR have advanced along their adoption journey of robotics and cognitive technologies to drive efficiencies and improved experience for employees.

Enable shifts in the way we work: Adaptable HR functions are three times more likely to be proactive in driving institutional change, new ways of working, and adoption of work technologies. In fact, Adaptable HR functions report the use of up to 5 forms of work technologies. Factors that enabled quick adoption include investment priorities and the right efforts in helping adoption through investments in manager/ leader enablement.

Reimagine HR: Adaptable HR functions are three times more likely to succeed in delivering closer partnership with the business through their operating model and capabilities. The specific capabilities demanded in Adaptable HR functions are what sets them apart and enables the organisation to be agile by design.

Shape and deliver value: Adaptable HR functions are almost three times more confident in their HR strategy and execution. This foundation and investment priorities enables them to be better equipped to address complexities and more proactive in responding to changes.

A record package of $82 billion committed for the fight against extreme poverty - Brand Spur


The world of work too has undergone drastic transformation in these times. Adaptable HR functions have proven that HR is truly at the forefront of shaping and delivering value to stakeholders, enabling us to adopt new ways of working, and enable digital success. Throughout this report, observations were shared in terms of how Adaptable HR organisations have paved ways for new co-creations and solutions for people and organisations to emerge stronger.

It is an accumulation of all individual behaviour changes and the larger organisation change which leads to business success. It is no surprise that organisations with Adaptable HR functions are 1.5 times more likely to have favourable growth in revenues and profit before tax in the coming 12 months.

Shaswat Kumar (Vice President and Asia Leader, Alight Solutions) shares, "This year's findings demonstrate that Adaptable HR function led organisations are likely to succeed in their change agenda. This will enable organisations, not only to compete better, but also to deliver the right value to its constituents and shareholders."

Certainly, the future belongs to organisations that are able to continue their journey of Adaptable HR, lead transformation and emerge stronger!

The State of HR Transformation 2021, is the fourth edition of the Alight Solutions' flagship study on this subject. The study data was captured between Jan 2021 and Apr 2021 through an online survey. The insights combine data captured via a survey that saw participation from over 1,700 respondents (which were filtered down to 1,022 based on completeness and accuracy of responses), and observations of Alight Solutions in the space of HR Transformation.


About Alight Solutions

With an unwavering belief that a company's success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimises business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organisations to achieve a high-performance culture. Alight's 15,000 dedicated colleagues serve more than 30 million employees and family members.


We deliver next level transformation at alight.com


Click here to download the exclusive report now. Let's emerge stronger together!

A record package of $82 billion committed for the fight against extreme poverty - Brand Spur
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