The United Kingdom is reviewing the nearly £2 billion it pledged to the World Bank’s concessional fund for the world’s lowest-income countries just 6 months ago in a move that has drawn sharp criticism from development insiders, who view it as the first wave of “devastating” consequences of the government’s decision to cut the aid budget.
Last November, the U.K. promised £1.98 billion to the International Development Association’s 21st replenishment — a 40% increase on its pledge at the previous replenishment. But in February, the Labour government announced it was cutting the aid budget to 0.3% of gross national income in order to boost the country’s defense budget, prompting speculation that it would be forced to renege on commitments to the World Bank and other multilateral bodies.
The World Bank’s IDA21 replenishment report now states that the U.K.’s pledge to the fund, which is the largest source of finance for low-income countries, is “currently under review.”
About the author
Susannah Birkwood
Susannah Birkwood is a U.K.-based freelance journalist and media and communications consultant who has worked for international organizations including WWF and Plan International.
