Biden pledges record $4bn to World Bank fund for poorest countries

US President Joe Biden pledged a $4 billion US contribution to the World Bank’s International Development Association fund for the world’s poorest countries, a senior Biden administration official said on Monday.

Biden announced the three-year US pledge during a closed session of the Group of 20 summit in Rio de Janeiro, the official told reporters, adding that the US Treasury was leading negotiations at the World Bank for the IDA replenishment.

The new US pledge is a record and...