Despite tough economic times, a global coalition of developed and developing countries today pledged to accelerate the fight to end extreme poverty by committing a record $52 billion in financing over the next three years for the World Bank's fund for the poorest, the International Development Association (IDA).
"This is a success for the global community," said World Bank Group President Jim Yong Kim. "We are deeply appreciative of the extraordinary efforts made by countries, many of which are facing their own economic challenges, to stretch to help the poorest.
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