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.