59387 CHAIRPERSON'S SUMMARY IDA16 Fourth Replenishment Meeting Brussels, Belgium 14-15 December 2010 1. Deputies of donor countries, representatives of borrower countries and observers from other multilateral development banks convened in Brussels, Belgium, for the final meeting of the IDA16 replenishment discussions. Participants expressed their appreciation to the Government of Belgium for hosting the meeting, and welcomed six new donors to IDA. 2. Participants were provided with an update on progress made in incorporating comments on the IDA16 Deputies' Report. They appreciated the significant work that Management and staff have undertaken in incorporating the comments from participants. Participants also endorsed the approach adopted in incorporating comments from Civil Society Organizations (CSOs). 3. Participants reaffirmed their support for the IDA16 policy framework for poverty reduction, whose central theme is delivering on development results. They also supported the four special themes for IDA16--crisis response, fragile and conflict-affected states, gender, and climate change--which constitute an integral part of delivering on development results and poverty reduction. A number of participants noted the need for strengthening IDA's efforts to support Pakistan's reconstruction and rehabilitation programs in the aftermath of the recent flooding. Participants noted that the final IDA16 report, together with the draft IDA16 Resolution, will be circulated to the Executive Directors of IDA for their approval and transmission to IDA's Board of Governors. 4. Based on the robust policy framework package agreed for IDA16, donors reconfirmed their strong support for IDA by pledging a total of SDR17.6 billion for the IDA16 replenishment (equivalent to US$ 26.4 billion based on the IDA16 foreign exchange reference rates). Together with donor compensation for MDRI debt forgiveness, credit reflows (including accelerated payments from some IDA graduates) and expected World Bank Group transfers, the total IDA16 envelope comes to SDR32.8 billion (US$49.3 billion equivalent) which represents a 20 percent increase in SDR commitment authority over IDA15 (or an 18 percent in US dollar equivalent terms). The IDA16 replenishment draws on the support from a broad coalition of donors, the World Bank Group, and former and current borrowers. 5. Several representatives of borrower countries as well as the Chairperson conveyed their sincere appreciation to the IDA Deputies for constructive discussions throughout the replenishment process and for the very generous financial contributions even when some of them are facing fiscal constraints. They noted that the funds provided to IDA16 will help IDA in maintaining its platform role in development assistance and in helping IDA countries achieve development results and make faster progress towards the Millennium Development Goals.