U.S. President Joe Biden pledged a $4 billion U.S. contribution to the World Bank's International Development Association fund for the world's poorest countries, a senior Biden administration official said on Monday.

(Bloomberg) -- President Joe Biden pledged $4 billion for the World Bank unit focused on low-interest loans and grants to the poorest nations, bolstering the effort to secure funding amid uncertainty over the policies of President-elect Donald Trump.

South Korean President Yoon Suk Yeol has pledged a 45% increase in the country's contribution to the World Bank's International Development Association fund to more than $600 million, the finance ministry said on Tuesday.

U.S. President Joe Biden is set to announce a 'historic' pledge to replenish the World Bank's International Development Association fund aimed at the world's poorest countries, U.S. deputy national security advisor Jonathan Finer said on Monday.

US President Joe Biden announced a "historic" $4 billion pledge for a World Bank fund that helps the world's poorest countries, the White House said Monday, before Donald Trump takes office with a new cost-cutting agenda.