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

The Manila Times

Biden pledges record $4B US contribution to World Bank fund for poorest countries  US President Joe Biden pledged on Monday (November 18) a $4 billion US contribution to the World Bank's International Development Association (IDA) fund for the world's poorest countries.  Biden announced the US pledge during his final address to the Group of 20 (G20) summit in Rio de Janeiro, The amount is a record and exceeds the $3.5 billion that Washington committed in the previous IDA replenishment round in December 2021.  US NETWORK POOL / REUTERS VIDEO  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe  Visit our website at https://www.manilatimes.net    Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion    Subscribe to our Digital Edition - https://tmt.ph/digital    Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer  Tune In: https://tmt.ph/tunein   #TheManilaTimes  #worldnews  #joebiden  #poorcountries

Transcript

00:00Now, we need to make sure the World Bank can continue its work in the most vulnerable countries.

00:06I'm proud to announce the United States is pledging $4 billion over the next three years

00:12to the World Bank's International Development Association.

00:15As my friend, Ajay, tells you, the IDA is the first responder to the world's poorest countries.

00:22I encourage everyone around this table to increase their pledges in December.

00:28In addition, we have to mobilize private capital at scale.

00:33I'm proud of my country's work in this front, including mobilizing $60 billion

00:38through the Partnership for Global Infrastructure and Investment.

00:42The United States strongly supports Ukraine's sovereignty and territorial integrity.

00:46Everyone around this table, in my view, should as well.

00:50And by the way, Russia's brutal invasion of Ukraine led to the highest record food prices in all of history.

00:57On Gaza, as I've said before, Israel has the right to defend itself

01:01after the worst massacre of Jews since the Holocaust.

01:04But how it defends itself, even as Hamas pulls the highest amount of civilians, matters a great deal.

01:11The United States has led the world in humanitarian aid to Gaza.

01:19And we're going to keep pushing to accelerate a ceasefire deal that ensures Israel's security,

01:25that brings hostilities home, and ends the suffering of the Palestinian people and children.

01:31I ask everyone here to increase their pressure on Hamas, which is currently refusing this deal.

01:37This is my last G20 summit.

01:40We've made progress together, but I urge you to keep going.

01:43I'm sure you will, regardless of my urging or not.

01:46This group has within its power Russia in a new era of sustainable development.

01:52We go from billions to trillions in assistance to those in need.

01:58This all may sound lofty, but this group can lay the foundation to make that achievable.

02:05Thank you very much, and I look forward to the rest of our discussion.

02:22For more UN videos visit www.un.org

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