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Chinese Government provides $52.74 million for the China-World Bank Group Partnership Facility
| Funder | China Ministry of Finance |
|---|---|
| Recipient Organization | International Bank for Reconstruction and Development (IBRD)|International Development Association (IDA)|International Finance Corporation (IFC) |
| Country | Multi-Region |
| Start Date | Jul 16, 2015 |
| End Date | May 11, 2032 |
| Duration | 6,144 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 87816 |
Grant Description
On 16 July 2015, the Chinese Minister of Finance and President of the World Bank signed an agreement establishing the China-World Bank Group Partnership Facility.
China provided $52.74 million to three World Bank entities: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC).
Under the original agreement, China was supposed to deposit funds into World Bank bank accounts as follows: $10 million USD by 31 October 2015, $20 million USD by 31 October 2016, and $20 million USD by 31 October 2017. However, as of 30 June 2022, the World Bank reports $52.74 million has been provided.
It is not clear where the additional $2.74 million was allocated.
The purpose of this special trust fund was to finance activities in four different categories: (1) Investment Projects and Operations, (2) Knowledge Development and South-South Learning, (3) Human Resources Cooperation, and (4) Finance for Global and Regional Programs. On December 6, 2024, China signed an agreement with the World Bank to replenish the facility for another $50 million.
Sources & References
- China Launches First World Bank Trust Fund to End Poverty and Promote Development
- Official Document TF072447: Administration Agreement
- The China-World Bank Group Partnership Facility
- PERFORMANCE AND LEARNING REVIEW OF THE COUNTRY PARTNERSHIP FRAMEWORK
- Annual Progress Report FY23-24
- China-World Bank Group Partnership Facility (CWPF) Progress Report FY17-FY22 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
International Bank for Reconstruction and Development (IBRD)|International Development Association (IDA)|International Finance Corporation (IFC)
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