World Bank: US No Longer Top Donor

world-bank.jpgYesterday, the World Bank reported that the US has lost its status as the largest donor to the Bank’s main fund for poor countries, as Britain secured a record amount of aid with a pledge of increased funding.

Britain pledged $4.2 billion for the period from July 2008 through June 2011, after negotiations that began in March in Paris and ended with two rounds of talks in Berlin.

What does it mean to the US? Firstly, losing its position as the top donor could weaken Washington‘s influence over the World Bank, which is the largest provider of development assistance to poor countries, and over policies that determine the cash flow.

The US pledged a very substantial contribution but is now down to second place after Britain,

A total of 45 donor countries, the highest number ever, promised a record total of $25.1bn at the Berlin talks, with a further $16.5bn coming from the bank and previous donor pledges. The total of $41.6bn represents an increase of $9.5bn over the previous funding period and will support around 80 countries, with a focus on African countries.

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“The donor community has demonstrated its full commitment to helping countries overcome poverty and achieve sustainable growth, especially in Africa,” World Bank President Robert Zoellick said.

However, contributions by some other countries also appear inflated when calculated in the US currency—which is running currently on a weakening dollar—and the talks were also complicated by slowing economic growth in rich nations. In the meantime, the bank’s mission is widening, with governments demanding more help in developing sophisticated economies and markets.

The US, despite having an economy six times as big as Britain’s, has been keen to hold on to its number one spot as the bank’s largest donor but has also been struggling in recent times with stretched budgets caused by wars in Iraq and Afghanistan.

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18 Responses

  1. Joe says:

    “The US, despite having an economy six times as big as Britain’s, has been keen to hold on to its number one spot as the bank’s largest donor but has also been struggling in recent times with stretched budgets caused by wars in Iraq and Afghanistan.” except that the UK also has a war on in Iraq and Afghanistan. Why not say the US has stretched budgets due to tax cuts for the wealthy or maybe say that support for multinational cooperation efforts (like the World Bank) has a lower priority than unilateral interventions like Iraq?

  2. russ says:

    Good it’s about time others stepped up , we need to collect oil from Iraq and sell more weapons to Saudi Arabia.

  3. Pete White says:

    No wonder our taxes are so high in Britain – we should be cutting back.

  4. John says:

    When the government decides who donations are made to, we all loose our freedom of choice. U.S. citizens are by far the greatest donors in the world, not our government. This is how it should be. I want the choice as to where my hard earned money goes.

  5. Chris says:

    @Joe

    Is Britain spending 1/6 of the amount America is (to be fair to size) to support a fighting force 1/6 of ours (around 300,000 Americans and 300,000 private contractors, or up to double that double in contractors due to the shady way they’re counted it)?

    According to BBC Britain maintains 2,500 troops in Iraq. (http://news.bbc.co.uk/2/hi/uk_news/politics/7034010.stm)

    Man, what a bank breaker. I’m totally against the war but to even compare Britains current force to America’s as being equal so therefore we can’t claim Iraq as a bigger expense is just retarded.

    It’s very clear that Americans are supporting over half a million people in Iraq while Britains are supporting 0.0025 of a million.

  6. newsy says:

    the US would be able to remain as top dog contributor IF it weren’t spending so much on pointless wars…

  7. Walk light says:

    Am I the only one who finds it odd that countries are donating money to the world bank, the same world bank that controls the money supply in most of the world and the same world bank that has a hand in setting the interest rate and inflation in the U.S.A. specifically? Am I the only one who finds it odd that there needs to be a middleman for providing assistance to developing countries. Am I the only one who sees a problem with the amount of money being donated without any real accounting of what is done with that money? The amounts are HUGE yet there is very little visible in terms of what is being done or where the money really goes. $30-40 Billion (in US or British units) can do a lot depending on what the focus is.

    Hiding in plain sight…

  8. Bob says:

    Chris when the war kicked off we had 40K people over there, 30,000 front line troops and another 10K navy, air and support personnel.

    It’s just we are in process of leaving the south and putting more troops in Afghanistan where they should have been in the first place. We will still have 4.5K training Iraqi army after we are gone.

  9. Dario says:

    ” U.S. citizens are by far the greatest donors in the world ”

    NO, NO, NO, I believe that the USA is one of the lowest per ca-pita ( that”s per person ) donors in the world. Really you should be ashamed of yourselves…. going to war for oil is not a donation.

  10. Brad says:

    Dario… since everyone says the US is there for oil, please fill me in why my gas price has almost tripled sine this all started ?

    On top of that we have not really seen any oil from that country, we continue to get the majority of our oil from Canada and Mexico

  11. Big Red says:

    @ Brad

    Its more about controling oil prices not where you get it from.

  12. Keep it up the UK, you really become a GATE for the whole humanity to follow your foot steps to illuminate the poverty on EARH. Is it possible beside assisting countries/peoples they should be made stand at their own to EARN and LIVE once and forever?

    Whatever and how big the donation is will be eaten and… but if they become stand to EARN at their own, then might be one day (surely one day) they will be in position to assist others.

    One thing more tell G-7 or G-8, life is given once and they should too care, love humanity like you and yours Country to assist the humanity is the largest and the foremost the RELIGION of the GOD and this is the only message of GOD, ALLAH, BAGHWAN, JESUS (whatever you name it) to facilitate others if couldn’t at least no trouble or problem should be created for others as it has been done so far in Iraq, Afghanistan and now in Pakistan (which is an open secret).

    Last but not least please try to CREATE positively as well your one message may change lives of Millions.

  13. andrew says:

    How much are we spending on pointless wars?

  14. uday says:

    Some Times We struggled bcoz of against corruption …

  15. vivek singh says:

    it’s good , britain spent money for support poor country.

  1. December 16, 2007

    World Bank: US No Longer Top Donor…

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