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 said on Sunday (4 January) that the United States could carry out further military action in Venezuela following the captu...
Swiss police have confirmed that all 40 victims of the New Year’s Eve fire at a bar in the mountain resort of Crans-Montana have now been identified...
Myanmar’s military junta has granted amnesty to more than 6,000 prisoners nationwide as the country marked its 78th Independence Day, local media re...
Denmark’s Prime Minister Mette Frederiksen has urged U.S. President Donald Trump to abandon threats to take over Greenland, following comments he ma...
Residents in Catia La Mar, near Caracas, say homes were damaged or destroyed during a U.S. military operation that captured Venezuelan President Nicol...
Train services through the Channel Tunnel were suspended for much of Tuesday after a power supply failure, causing long delays and leaving thousands stranded during peak New Year holiday travel.
British Prime Minister Keir Starmer reaffirmed on Thursday (December 4) that responsibility for the 2018 Novichok attack in Salisbury lies with Russian President Vladimir Putin, following the conclusion of a public inquiry into the poisoning.
Storm Claudia, which brought violent weather to Portugal, has resulted in the deaths of three people and left dozens injured, authorities reported on Saturday. Meanwhile, in Britain, rescue teams were organising evacuations due to heavy flooding in Wales and England.
The Kremlin confirmed on Wednesday that there had been contact between Britain’s national security adviser, Jonathan Powell, and Kremlin foreign policy aide Yuri Ushakov, but the dialogue ultimately did not continue.
Turkish President Recep Tayyip Erdoğan has warned that the Russia-Ukraine war is now threatening trade in the Black Sea.
Teenagers as young as 14 and 15 years old were among those who died in the bar fire on New Year's Eve that killed 40 people in Switzerland, police said on Sunday.
North Korea fired a ballistic missile into the East Sea, according to South Korea and Japan, as regional diplomacy and security concerns remain in focus.
The United States launched an overnight military operation in Venezuela and captured its long-serving President Nicolás Maduro on Saturday, U.S. President Donald Trump said, pledging to place the country under temporary American control and signalling that U.S. forces could be deployed if necessary.
The UN Security Council will hold an emergency meeting Monday to discuss the U.S. operation in Venezuela.
U.S. President Donald Trump said on Sunday (4 January) that the United States could carry out further military action in Venezuela following the capture of President Nicolás Maduro. Speaking to reporters aboard Air Force One, he said Washington now effectively controls the country.
Swiss police have confirmed that all 40 victims of the New Year’s Eve fire at a bar in the mountain resort of Crans-Montana have now been identified, with more than half of those killed being teenagers.
Myanmar’s military junta has granted amnesty to more than 6,000 prisoners nationwide as the country marked its 78th Independence Day, local media reported on Sunday.
Denmark’s Prime Minister Mette Frederiksen has urged U.S. President Donald Trump to abandon threats to take over Greenland, following comments he made in an interview with The Atlantic.
Residents in Catia La Mar, near Caracas, say homes were damaged or destroyed during a U.S. military operation that captured Venezuelan President Nicolas Maduro, with authorities reporting an unspecified number of deaths.
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