The UK government has pledged to invest £1.98 billion ($2.5 billion) over the next three years into the World Bank’s International Development Association (IDA) fund, aimed at supporting the world’s lowest-income countries. This contribution will help fund projects that promote economic growth, combat poverty, and address the ongoing challenges of climate change, according to a government statement.
The IDA fund, which provides grants and low-interest loans to the most impoverished nations, is replenished every three years, with a pledging conference scheduled for December 5-6 in Seoul. World Bank President Ajay Banga is seeking a record-breaking amount for this replenishment, aiming to exceed the $93 billion raised in December 2021, in response to growing demands from poor countries facing mounting debts, climate-related disasters, conflict, and other crises.
This pledge comes shortly after U.S. President Joe Biden announced a $4 billion contribution to the IDA fund last week.
While the UK previously committed 0.7% of its gross national income to overseas development aid, the Conservative government reduced this figure to 0.5% in 2021 due to the economic impact of the COVID-19 pandemic. Since taking office in July, Prime Minister Keir Starmer's Labour government has vowed to restore the aid budget to 0.7%, though no timeline has been set for this increase.
Britain has advised its nationals to evacuate South Sudan as fears of renewed civil war grow following the collapse of a fragile peace deal.
Britain's King Charles was briefly hospitalized due to temporary side effects from cancer treatment and has cancelled Friday’s engagements on medical advice.
Britain recorded 19,125 potential modern slavery victims in 2024, surpassing previous figures. Experts urge policy reforms as stricter immigration laws leave victims afraid to seek help.
Britain's Royal Navy confirmed on Wednesday that it has been monitoring a Russian warship and a merchant vessel navigating through the North Sea and English Channel.
Airbus UK wins a £150 million-contract to engineer landing platform that will safely deliver the first European rover on Mars. First British-built rover will explore the red planet in 2030 for signs of present and past life on Mars.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,002 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $0.4 billion, which will be allocated for budget support.
Wisconsin Attorney General Josh Kaul has filed a lawsuit to stop Elon Musk from giving $2 million to voters ahead of the state’s Supreme Court election, calling it a violation of state election laws.
Severe storms have brought deadly floods to the Texas–Mexico border, killing at least four people and forcing hundreds into shelters.
Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
As the world shifts toward clean energy at an ever-accelerating pace, large economies are scrambling to secure reliable supply chains for rare earth minerals. These minerals, once seen as mere industrial components, have become a political tool in the global power struggle
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
A devastating overnight drone attack on Kyiv, attributed to Russian forces, resulted in the deaths of three people, including a five-year-old child, and left ten others injured.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,002 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,002 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
Wisconsin Attorney General Josh Kaul has filed a lawsuit to stop Elon Musk from giving $2 million to voters ahead of the state’s Supreme Court election, calling it a violation of state election laws.
Severe storms have brought deadly floods to the Texas–Mexico border, killing at least four people and forcing hundreds into shelters.
M23 rebel leaders have arrived in Qatar for further talks with mediators, following an earlier meeting between the presidents of DRC and Rwanda.
Russian President Vladimir Putin has suggested placing Ukraine under temporary UN administration before negotiations on a peace deal can begin.
Airbus UK wins a £150 million-contract to engineer landing platform that will safely deliver the first European rover on Mars. First British-built rover will explore the red planet in 2030 for signs of present and past life on Mars.
A powerful 7.7-magnitude earthquake struck Myanmar’s Sagaing region, followed by a 6.4-magnitude tremor, killing more than 1,002 people and leaving 2,300 injured. The quake caused building collapses in Myanmar and Thailand, prompting emergency declarations and ongoing rescue efforts.
The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $0.4 billion, which will be allocated for budget support.
Wisconsin Attorney General Josh Kaul has filed a lawsuit to stop Elon Musk from giving $2 million to voters ahead of the state’s Supreme Court election, calling it a violation of state election laws.
Severe storms have brought deadly floods to the Texas–Mexico border, killing at least four people and forcing hundreds into shelters.
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