World Bank Chief in Talks with US Over Funding Concerns

World Bank President Ajay Banga has held constructive discussions with the Trump administration regarding the future U.S. contribution to the bank's fund, notably concerning a $4 billion IDA pledge. Reduced contributions could shrink the funding round, yet still surpass pre-pandemic levels.

World Bank President Ajay Banga reported engaging in productive talks with the Trump administration, addressing the U.S.'s future funding commitments to the lender.

Banga highlighted the uncertain outlook of the U.S. maintaining the $4 billion International Development Association pledge made under President Biden, which, coupled with potential reductions from European countries, might decrease the latest funding round.

Nonetheless, Banga remains optimistic, noting ongoing constructive dialogue, though he awaits a final resolution. "They're asking the right questions," he shared, indicating positive engagement in these critical financial discussions.

(With inputs from agencies.)