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.
Russia has expelled a British diplomat, accusing him of espionage and providing false information. The UK Foreign Office has not yet commented.
British lawmakers will on Tuesday debate and vote on plans to introduce some of the world's strictest anti-smoking rules, including banning younger people from smoking.
Chinese President Xi Jinping and UK Prime Minister Keir Starmer met in Rio, discussing opportunities for collaboration amid global challenges, marking their first meeting since 2018.
Georgia suspends EU talks until 2028, citing “blackmail” by Brussels after EU criticism of election irregularities sparks calls for sanctions and new polls.
New Delhi, the capital city of India, continues to be shrouded in toxic smog. The air quality index (AQI) in the capital has surpassed already severe levels, sparking widespread concern among residents.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
Negotiations at COP29 in Baku face a critical impasse as sharp divisions over climate finance and fossil fuel commitments threaten progress.
"Come up with the video in its full form," demands the COP29 CEO, Elnur Soltanov, in an exclusive interview with AnewZ. The chief executive has broken his silence on the claims he was using his position to organise potential fossil fuel deals.
The United Nations COP29 climate change conference in Baku seeks $1 trillion annually to help vulnerable nations tackle climate change, as political tensions and Argentina’s withdrawal overshadow talks.
New Delhi, the capital city of India, continues to be shrouded in toxic smog. The air quality index (AQI) in the capital has surpassed already severe levels, sparking widespread concern among residents.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
Georgia suspends EU talks until 2028, citing “blackmail” by Brussels after EU criticism of election irregularities sparks calls for sanctions and new polls.
New Delhi, the capital city of India, continues to be shrouded in toxic smog. The air quality index (AQI) in the capital has surpassed already severe levels, sparking widespread concern among residents.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
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