Washington The World Bank’s International Development Association fund for the world’s poorest nations will get a $4 billion US contribution, US President Joe Biden promised Monday, according to a senior Biden administration official.
The official informed reporters that Biden made the announcement of the three-year US commitment at a closed session of the Rio de Janeiro Group of 20 summit, and that the US Treasury was in charge of the World Bank discussions for the IDA replenishment.
Significantly surpassing the $3.5 billion Washington pledged in the previous IDA fund replenishment round in December 2021, the new US investment is a record.
With billionaire Tesl and SpaceX, it is uncertain whether US President-elect Donald Trump, who has already suggested reducing international aid, will keep his promise.