Although Biden wandered aimlessly at the G20 Summit in Rio De Janeiro, Brazil, causing concern when he missed the “family picture” with world leaders, he had enough of a hold on his faculties to pledge a record $4 billion dollars to the World Bank.
The pledge is a 14.3% increase from 2021. However, approval will depend on Congress after President Trump returns to the White House.
The announcement comes despite the fact that the DC-based international lender’s “poor recording keeping” has resulted in anywhere between $24 billion and $41 billion in misplaced funds.
During his remarks, Biden said, “It seems to me there are certain key steps. First, we need to invest at a large scale. Now, we need to make sure the World Bank can continue its work in the most vulnerable countries.”
“I’m proud to announce the United States is pledging $4 billion over the next three years to the World Bank International Development Association.
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