The World Bank faces “an uphill task” persuading donor countries to meet its fundraising target of $39bn for the International Development Association, the bank’s concessionary lending arm that provides funds to the world’s poorest countries, Robert Zoellick, president, said on Thursday.

In a briefing in Tokyo, Mr Zoellick said factors including budget constraints, taxpayer resistance and a weak US dollar and Japanese yen made the current three-year round, which closes in December, very difficult.