Sri Mulyani Passes World Bank Selection, to Lead Funding for Poor Nations

The World Bank has appointed former Indonesian Finance Minister Sri Mulyani Indrawati as Independent Co-Chair of the International Development Association (IDA) for its 22nd replenishment process. In this role, Sri Mulyani will drive strengthened policy and funding support for IDA22 among both donor and borrowing countries, according to an official World Bank statement released on Wednesday (5/8/2026). The World Bank explained that Sri Mulyani will co-lead the IDA22 replenishment process alongside Paschal Donohoe, Managing Director and Chief Knowledge Officer of the World Bank Group. According to the World Bank, she was selected from a shortlist of candidates through a selection process conducted by a search committee comprising representatives of donor and borrowing nations. The World Bank assessed Sri Mulyani as one of the world’s most experienced figures in international development finance. She currently serves as the Blavatnik World Leaders Fellow 2025-2026 at the University of Oxford. She previously served as Indonesia’s first female Minister of Finance and as Managing Director and Chief Operating Officer of the World Bank Group, giving her deep expertise in development policy and multilateral financing. Sri Mulyani has also been listed among Forbes’ 100 Most Powerful Women in the World. The IDA is one of the world’s largest sources of funding for combating extreme poverty in low-income countries. Through the IDA, recipient countries obtain zero or low-interest loans and grants to fund projects and programmes aimed at boosting economic growth, enhancing resilience, and improving the welfare of poor communities worldwide. The IDA replenishment meeting is generally held every three years to raise new funding for the IDA, the World Bank’s fund designated for the poorest countries, while also serving as a forum for partners to review IDA policies. Since IDA18, the IDA replenishment process has been led by two co-chairs, consisting of an independent figure with adequate knowledge of multilateral development banks and a high-level World Bank Group representative appointed by the World Bank President. Since 1960, the IDA has channelled over US$632 billion for investments in 115 countries. The IDA22 replenishment cycle will be officially launched at the Mid-Term Review in Tashkent, Uzbekistan, in December 2026. The final pledging meeting is scheduled for December 2027. IDA22 will determine the amount of concessional financing available for 78 countries through 2031.