Biden Commits Record $4 Billion to World Bank Fund for Global Development

The pledge aims to support the world's poorest countries as part of the G20 summit discussions.

Biden's pledge marks a 14.3% increase from the previous U.S. contribution in 2021.
The announcement was made during a closed session at the G20 summit in Rio de Janeiro.
The World Bank's International Development Association fund provides grants and low-interest loans to impoverished nations.
The commitment's future depends on U.S. Congressional approval, with uncertainty surrounding President-elect Trump's stance.
Biden also plans to initiate a clean energy partnership with Brazil's President Lula da Silva.