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.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be...
The Ebola epidemic in the Democratic Republic of the Congo (DRC) is spreading faster than efforts to contain it, global humanitarian organisation Méd...
Kyrgyzstan has introduced an indefinite ban on the export of crude oil and petroleum products by road and rail in an effort to prevent fuel shortages ...
The UK has announced a fresh round of sanctions against individuals and organisations it says are responsible for cyber attacks and hybrid operations linked to Russian intelligence, in a move aimed at countering efforts to destabilise Europe.
Mark Rutte, Secretary General of NATO, has described fresh U.S. strikes on Iran as "absolutely necessary," in remarks at the start of the second day of the alliance's sumit in the Turkish capital Ankara.
Britain, France, Germany and several other European countries will invest more than $50 billion over the next decade to develop long-range precision strike weapons, in a major effort to strengthen NATO's military capabilities and reduce reliance on the United States.
The leader of Britain's right-wing Reform UK party, Nigel Farage, has announced he will resign as MP for Clacton, triggering a by-election that he will contest in a bid to secure a fresh mandate from voters.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
The death toll from the fire at a live music pub in Bangkok has climbed to 32 after two more victims died from their injuries, according to Thailand's Police Hospital.
Ukraine and Russia exchanged fresh attacks on Tuesday, with Kyiv targeting shipping and energy infrastructure inside Russia while Moscow launched another large-scale missile and drone assault on Ukrainian cities.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
Ten EU countries, led by Italy and Poland, have urged the European Union to reconsider a new carbon price on fuel as part of a wider overhaul of the bloc's carbon market, according to a joint statement seen by Reuters.
The European Union (EU) has announced an additional €20 million ($22.8 million) in humanitarian assistance for Venezuela after last month's deadly earthquakes, which killed more than 4,700 people.
India's investigation into last year's Air India crash that killed 260 people has entered its final stages, with investigators completing a transcript of the cockpit voice recorder and carrying out a psychological autopsy as they work towards a final report.
The Ebola epidemic in the Democratic Republic of the Congo (DRC) is spreading faster than efforts to contain it, global humanitarian organisation Médecins Sans Frontières (MSF) has warned, calling for an urgent expansion of containment and care measures.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment