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.
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Britain launched a new package of Russia-related sanctions on Friday, targeting ships carrying Russian oil, as well as companies and individuals supplying electronics, chemicals and explosives used to make Russian weapons.
Thousands of London Underground staff began a series of strikes on Sunday over pay and working conditions, causing severe disruption across the city’s subway network.
Britain, France, and Germany have confirmed that their proposal to extend the Iran nuclear deal and delay the reimposition of UN sanctions for 30 days “remains on the table,” UK Ambassador Barbara Woodward said on Friday at the United Nations.
Britain, France and Germany are likely to trigger United Nations sanctions on Iran on Thursday over its nuclear programme according to sources, while giving Tehran 30 days to make commitments. Inspectors have returned for the first time since June, as talks have yet to yield concrete agreements.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
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Music mega-star Taylor Swift and National Football League player Travis Kelce announced their engagement. “Your English teacher and your gym teacher are getting married," the couple wrote in a joint Instagram post, alongside photos of Kelce proposing to Swift in a garden of pink and white flowers.
Five U.S. F-35 fighter jets landed in Puerto Rico following President Trump's order to bolster Caribbean military presence amid rising tensions with Venezuela.
The first ships of the international aid initiative, the Global Sumud Flotilla (GSF), departed from Tunisia’s Bizerte port on Saturday, heading towards the Gaza Strip.
Belgium has approved the transfer of four decommissioned minehunters to Bulgaria under a contract worth €24 million (over $28 million).
Egypt is conducting intensive diplomatic contacts with Arab, Islamic, and regional partners ahead of the emergency Arab-Islamic summit in Doha on Monday, which will address the recent Israeli attack in the Qatari capital.
Japanese Emperor Naruhito, Empress Masako and their daughter Princess Akito met survivors of the atomic bombing at a nursing care facility in Nagasaki on Saturday.
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