Washington, D.C. \u2014<\/strong> In a surprising move, former U.S. President Donald Trump<\/strong> has requested Congress to approve a $3.2 billion contribution<\/strong> to the World Bank\u2019s International Development Association (IDA)<\/strong>, a fund that provides low- or no-interest loans to the world\u2019s poorest countries.<\/p>\n\n\n\n Reuters reported<\/strong> that the government would distribute the proposed contribution over a span of three years. Although Trump has often expressed skepticism<\/strong> toward international aid, financial experts have welcomed<\/strong> the announcement as a \u201cpleasant surprise.\u201d Previously, many had raised concerns<\/strong> that the Trump administration might withhold support entirely.<\/p>\n\n\n\n While Biden pledged<\/strong> $4 billion but has not fulfilled it, experts believe Trump\u2019s offer will significantly help<\/strong> the World Bank move toward achieving its $100 billion fundraising goal through global contributions.<\/p>\n\n\n\n The proposal is now in the hands of the U.S. Congress will determine whether to approve the funding.<\/strong> When asked if the Trump administration would honour Biden’s earlier pledge, Treasury Secretary Scott Bessent<\/strong> noted that the final figure will depend on the broader budget plan<\/strong>, adding, \u201cA lot depends on whether World Bank President Ajay Banga and the IMF leadership get back to basics.\u201d<\/em><\/p>\n\n\n\n Trump\u2019s broader budget plan<\/strong>, unveiled on Friday<\/strong>, includes a $49 billion reduction in foreign aid<\/strong>, sparking debate over America\u2019s global development role. The African Development Bank<\/strong> and the African Development Fund<\/strong> are among the targets, with proposed cuts totaling $555 million<\/strong>. Officials explained that these institutions are \u201cnot currently aligned to Administration priorities.\u201d<\/em><\/p>\n\n\n\n Despite these reductions, the budget preserves the $3.2 billion<\/strong> for IDA. According to Reuters, the Trump administration is also encouraging other nations and international bodies to contribute more generously<\/strong> to global development.<\/p>\n\n\n\n In the official budget document, the administration stated:<\/p>\n\n\n\n \u201cThis fulfils the President\u2019s promise to no longer dole out foreign aid dollars with no return on investment for the American people.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n As the world watches closely, Trump\u2019s latest proposal suggests a shift in tone\u2014balancing fiscal conservatism with selective support for key international institutions.<\/p>\n","protected":false},"excerpt":{"rendered":" US Budget Plan Also Proposes Major Cuts in Foreign Aid, Raising Global Attention Washington, D.C. \u2014 In a surprising move, former U.S. President Donald Trump has requested Congress to approve a $3.2 billion contribution to the World Bank\u2019s International Development Association (IDA), a fund that provides low- or no-interest loans to the world\u2019s poorest countries. […]<\/p>\n","protected":false},"author":2,"featured_media":650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"\nCongress Holds the Final Say<\/h3>\n\n\n\n
Budget Cuts Raise Questions About Global Priorities<\/h3>\n\n\n\n
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