Biden pledges record $4 bln US contribution to World Bank fund for poorest countries

Reuters11-18

WASHINGTON, Nov 18 (Reuters) - U.S. President Joe Biden has pledged a $4 billion U.S. contribution to the World Bank's International Development Association $(IDA)$ fund for the world's poorest countries, two sources with knowledge of the commitment said on Monday.

Biden announced the U.S. pledge during a closed session during the Group of 20 summit in Rio de Janeiro, according to the sources, who spoke on condition of anonymity. The amount is a record and substantially exceeds the $3.5 billion that Washington committed in the previous IDA replenishment round in December 2021.

(Reporting by Andrea Shalal and David Lawder)

((David.Lawder@tr.com; +1 202 843 6288;))

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