Sri Mulyani Indrawati

Independent Co-Chair, IDA22 Replenishment (World Bank); Member, Gates Foundation Board — World Bank / Gates Foundation

About Sri Mulyani Indrawati

Key facts Role: Independent co-chair, IDA22 replenishment; member, Gates Foundation board Organisation: World Bank / Gates Foundation Country: Indonesia Sector: Development finance Headline figures: IDA's 78 client countries are home to 1.9 billion people; the previous round drew $23.7bn in donor pledges, leveraged into $100bn A year after she lost Indonesia's finance ministry, Sri Mulyani Indrawati has taken on the job of raising money for the world's poorest countries. On 3 August the World Bank said donor and borrower representatives had selected her as independent co-chair of the 22nd replenishment of the International Development Association (IDA22). IDA is the bank's fund for low-income countries. The replenishment will determine how much concessional finance 78 countries can draw on until 2031. The role She holds no public office in Indonesia. Her power now rests on convening: persuading finance ministries in rich countries to pledge and borrowing governments to accept the policy terms. She will share the role with Paschal Donohoe, the World Bank Group's managing director and chief knowledge officer. A search committee drawn from donor and borrower constituencies chose her from a shortlist, the bank said. The cycle formally begins at a mid-term review in Tashkent, Uzbekistan, in December 2026, and the final pledging meeting is expected in December 2027. “With 20 years to make the biggest impact possible in the lives of those who need it most, I am honored to join the Gates Foundation's board,” — Sri Mulyani, in the foundation's statement The stakes The stakes are considerable. The previous round, IDA21, closed in Seoul in December 2024 with $23.7bn in donor pledges, which the bank leveraged into a record $100bn of financing, according to the World Bank. IDA's 78 client countries are home to 1.9 billion people. Fourteen of those countries are in East Asia and the Pacific and six are in South Asia. Since 1960 IDA has provided more than $632bn to 115 countries, the bank said in August. The Gates Foundation Her second new platform is the Gates Foundation. The foundation appointed her to its governing board on 12 January 2026. Its chair, Bill Gates, has committed to spend down the endowment over the next two decades, focusing on maternal and child deaths, infectious disease and poverty. "With 20 years to make the biggest impact possible in the lives of those who need it most, I am honored to join the Gates Foundation's board," she said in the foundation's statement. Fellow board members include Gates and chief executive Mark Suzman. She is also spending 2026 as a World Leaders Fellow at Oxford's Blavatnik School of Government, which said the one-year fellowship involves mentoring students and alumni and convening global leaders. Background Few economists have held more senior jobs in both national and multilateral finance. The World Bank describes her as Indonesia's first female finance minister. Reuters reported that she first took the post in 2005 and left in 2010, when she became managing director and chief operating officer of the World Bank, responsible for its operations worldwide. She was reappointed minister in 2016 and served under three presidents. Reuters said she won plaudits for tax reform and for steering the G20 economy through the global financial crisis and the pandemic. The Blavatnik School notes that she was named "Best Minister in the World" in 2018. Her exit from the ministry was abrupt. On 8 September 2025 President Prabowo Subianto replaced her with Purbaya Yudhi Sadewa, an economist who had promised faster growth. The change came after two weeks of nationwide protests, during which looters broke into her home, Reuters reported. The Jakarta stock index fell 1.3% on the news. State Secretary Prasetyo Hadi said she "neither resigned nor was she removed", describing the change as the president's prerogative. What to watch: the Tashkent mid-term review in December, and whether major donors under budget pressure hold or cut their IDA contributions. Watch too how far the Gates Foundation's spending in Asia reflects her priorities. Any return to Indonesian public life would also be significant. She ranks 40th because she no longer controls a national budget. She now chairs the negotiation that sets the size of the world's largest pool of concessional finance for poor countries, which is influence rather than executive command. Sources World Bank, Statement on New Independent Co-Chair of the IDA22 Replenishment , 3 Aug 2026 World Bank, World Bank Group Announces Record $100 Billion IDA Replenishment , 6 Dec 2024 Gates Foundation press release, 12 Jan 2026 The Jakarta Post, Gates Foundation appoints Sri Mulyani to governing board , 13 Jan 2026 Blavatnik School of Government, University of Oxford, 5 Dec 2025 Reuters, Indonesia replaces respected finance minister with economist promising rapid growth , 8 Sep 2025

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She ranks 40th because she no longer controls a national budget. She now chairs the negotiation that sets the size of the world's largest pool of concessional finance for poor countries, which is influence rather than executive command. The replenishment will determine how much concessional finance IDA's 78 client countries, home to 1.9 billion people, can draw on until 2031.