US President Joe Biden has pledged a $4 billion contribution to the World Bank’s International Development Association (IDA) fund for the world’s poorest countries, two sources familiar with the pledge said on Monday.
Biden announced the U.S. commitment in a closed-door session during the G20 summit in Rio de Janeiro, according to the sources, who spoke on condition of anonymity.
The amount is a record and substantially exceeds the $3.5 billion that the United States committed in the previous round of IDA funding in December 2021.
Source: Terra
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