UK Considers Breaking £2 Billion Aid Promise to the World Bank
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The UK is considering scaling back its nearly £2 billion ($2.7 billion) commitment to a World Bank fund for developing nations, according to people familiar with official plans, in a move that could see it slash aid alongside Donald Trump’s White House.
The Labour government pledged £1.98 billion in November to the International Development Association, a unit of the World Bank that provides grants and low interest loans to the poorest countries. However, three months later ministers changed tack, raiding the UK’s foreign aid budget to pay for higher military spending as the US started restricting support for Ukraine’s defense against Russia.