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Donors Pledge Record $25 Billion for World Bank Poverty Programs

Donor nations have pledged a record $25 billion to help fight poverty in the world's poorest nations, which are home to two and a half billion people.

The new donations boost the bank's International Development Association's budget to more than $41 billion over the next three years.

A total of 45 nations pledged donations, including six new countries -- China, Cyprus, Egypt, Estonia, Latvia and Lithuania. Egypt and China were once recipients of World Bank aid.

The International Development Association is one of the largest sources of assistance for the world's poorest countries. The money addresses education, health, water, sanitation, environmental issues, business development and other issues.

Some information for this report was provided by AFP and Reuters.