One America News Network OAN Staff Brooke Mallory
In order to “replenish” the World Bank’s International Development Association, U.S. President Joe Biden announced that the U.S. will contribute $4 billion over the course of the following three years.
“This week I joined World Bank President Banga to announce the United States will pledge $4 billion over 3 years to the replenishment of IDA—the arm of the World Bank that supports vulnerable countries. We ask that others join us in stepping up their pledges,” Biden posted on X (Twitter).
This week I joined World Bank President Banga to announce the United States will pledge $4 billion over 3 years to the replenishment of IDA – the arm of the World Bank that supports vulnerable countries.
We ask that others join us in stepping up their pledges. pic.twitter.com/HqwirMI3Kl
— President Biden (@POTUS) November 19, 2024
The World Bank’s International Development Association (IDA) provides assistance to “vulnerable” low-income nations. IDA was founded in 1960 to supplement the International Bank for Reconstruction and Development (IBRD), the World Bank’s initial lending arm.
According to the IDA’s website, its grants and low-interest loans enable nations to make investments, which supporters say enhances people’s quality of life globally.
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