UK contribution helps to give the World Bank its largest ever budget

by

Britain has pledged more than £2 bn ($4.2 bn) over the next three years to the World Bank, an increase in its support of 50%. This made the UK overtake the US as the biggest contributor to the Bank’s budget, despite the US also increasing its donation by 30% (to $3.7 bn).

A couple of years ago I seem to remember the UK withheld its money to the World Bank to express concern over the conditionality attached to Bank loans and the dubious track-record these policies have had in reducing poverty. Perhaps it’s just me, but I was unaware that anything had changed with respect to Bank conditionality, which makes Britain’s huge increase in support rather hard to square with their supposed concern about the Bank’s policies. Other countries continue to express concern. Norway has withheld 25% of its increase in funding in protest over conditionality.

You can read more about it at Forbes, and in the Guardian.

Advertisements

Tags: ,

One Response to “UK contribution helps to give the World Bank its largest ever budget”

  1. UK Voter Says:

    I am not sure what have given this government the ‘right’ to take a lead on reducing world poverty, when the people who are being expected to fund such initiaves have not been asked. Charity should really begin at home and we should consider the rights of our aged population first, particularly those struggling to pay higher energy bills. We should place such questionable initiatives on hold until 1. we have got our own house in order and 2. this government has demonstrated that they can spend taxpayers money wisely. This far, they have failed on both counts.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: