Jakarta. Ex-Finance Minister Sri Mulyani now co-chairs the World Bank’s initiative to fund low-income nations to exit extreme poverty.

The initiative, known as the International Development Association (IDA), rolls out grants and zero-to-low-interest loans for poor countries. According to the bank’s press statement, a search committee of donor and borrower constituencies had picked Sri Mulyani as the “independent co-chair” for the funding’s 22nd replenishment cycle.

“In this role, she will champion stronger policy and financial support for IDA22 across donor and borrower countries,” a statement by the World Bank reads.

Sri Mulyani is set to co-lead the process alongside the World Bank’s managing director and chief knowledge officer, Paschal Donohoe. The development lender also described Sri Mulyani as “one of the world’s most experienced voices in international development finance”. 

The IDA22 cycle will determine the scale of concessional financing to 78 eligible countries — such as Myanmar, Afghanistan, and Malawi — through 2031. Its formal launch is slated for this December in Tashkent. The final pledging meeting is expected in December 2027. 

Since 1960, the IDA’s investments in 115 countries have topped $632 billion. Indonesia had contributed about $30 million in the previous IDA cycle, according to the bank’s report.

The 63-year-old economist was once the managing director and chief operating officer at the World Bank. She stepped down from her ministerial tenure in September 2025, after serving the role for almost 14 years across three presidential administrations. She resigned after becoming a target of anger in a nationwide protest over economic inequality.

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