World Bank pledges $700 million for women and children's healthListen /
The World Bank Group has agreed to invest $700 million by 2015 to improve women and children's health in poor countries.
The President of the Group, Jim Yong Kim, made the announcement on Monday during the annual UN General Assembly debate in New York.
This new funding comes from the International Development Association (IDA), the Bank Group's fund for the poorest countries
The support will help contribute to the decline of maternal and child mortality as well as expand access to health care for poor women and children.
President Jim Yong Kim commends the advances made in reducing maternal and child mortality, otherwise known as MDG 4 and 5, but warns that challenges remain.
"There has been a great deal of progress in reducing maternal and child mortality. Yet we know between now and the 2015 MDG deadline, the lives of millions of children and hundreds of mothers remain at risk. One year ago, I committed with other development partners to scale up funding for MDGs 4 and 5. Today I am pleased to announce that between now and the end of 2015, the World Bank Group projects that at least $700 million in financing from the International Development Association, our fund for the poorest countries, will be added to improve women and children's health."
The World Bank Group has been working with countries to shift the focus from paying for inputs to paying for results.
There is strong evidence that the approach works, the Group concludes citing Afghanistan, Argentina and Burundi as examples.
Jocelyne Sambira, United Nations.