Trump seeks $3.2 billion for World Bank’s fund for poorest countries

President Donald Trump has asked the US Congress to approve a $3.2 billion contribution to the World Bank’s International Development Association (IDA), which offers low- or no-interest loans to the world’s poorest countries.

According to Reuters, the money would be given over three years. Experts in global finance welcomed the request as a “pleasant surprise,” especially since there had been concerns that Trump might not provide any funding at all.

Former President Joe Biden had promised to give $4 billion to the IDA, but that money hasn’t been sent yet. While Trump’s proposed amount is smaller, sources told Reuters it will still help the World Bank get closer to its target of raising $100 billion by combining donations from several countries.