Biden pledged to provide this amount to the International Development Association during his participation in the G20 leaders’ summit in Rio de Janeiro.
This is Biden’s last meeting with senior world leaders before his departure The White House In January.
A senior American official said that this is a contribution of “four billion dollars over three years,” which means that it is not binding on the next Republican administration headed by Donald Trump.
But the same official indicated that Republicans, when they were in power, supported pumping money into this fund.
The International Development Association is an arm of the World Bank that helps the poorest countries on the planet.
The Foundation provides loans and grants for programs such as combating inequality and combating global warming.
