Ghana, Nigeria ranked among World Bank’s top 10 borrowers in $230bn IDA loan portfolio

• The World Bank’s concessional lending arm, the International Development Association (IDA), says its global loan portfolio has reached about $230.8 billion as of March 2026.

• Ghana and Nigeria are among the top 10 borrowing countries in the portfolio, reflecting growing financing needs in Africa.

• IDA said the top 10 borrowers account for nearly 60% of its total exposure, with most funding directed towards infrastructure, economic recovery, and development programmes.

According to IDA’s condensed financial statements for the period ending March 31, 2026, the institution continues to play a major role in financing low-income and developing economies through loans, grants, and guarantees aimed at reducing poverty and supporting economic development.

The report highlights growing demand for development financing across emerging economies, particularly in Sub-Saharan Africa and South Asia, where countries continue to grapple with infrastructure deficits, debt pressures, climate vulnerability, and rising social spending needs.

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IDA’s financing model is largely based on sovereign lending, meaning most loans are either issued directly to governments or backed by sovereign guarantees.

Countries facing higher risks of debt distress often receive a larger portion of support through grants rather than traditional loans.

The institution also noted that it applies a strict internal risk assessment framework when evaluating borrowers. Factors considered include:

• Political stability

• Fiscal and debt sustainability

• Economic growth prospects

• External liquidity conditions

• Monetary and exchange rate policies

• Environmental, social, and governance risks

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Despite lending heavily to higher-risk economies, IDA reported relatively strong repayment performance across its portfolio. As of March 2026, only 0.4% of total loans were classified as nonaccrual, meaning most borrowers continue to meet repayment obligations on schedule.

The organisation further disclosed that its Deployable Strategic Capital (DSC) ratio stood at 32.3% as of March 31, 2026, indicating strong capital buffers to support continued lending operations.

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One of the key findings in the report is the concentration of lending exposure among a small group of countries. The top 10 borrowers account for nearly 60% of IDA’s total exposure globally.

Nigeria’s inclusion reflects the country’s large financing needs across infrastructure, energy, and public services, while Ghana’s ranking comes amid ongoing macroeconomic challenges and increased reliance on concessional financing to support economic recovery and development programmes.

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The report underscores the growing importance of development finance institutions in supporting African economies facing fiscal pressures and development gaps.