• The World Bank distributed $118.5 billion in loans and grants in 2025, making it one of the largest sources of annual development finance in the world
• The UK is one of only six countries with its own permanent seat on the World Bank’s board
• Ed Miliband, the new Foreign Secretary, inherits a drastically diminished aid budget, with UK bilateral aid to Africa alone set for a 56% cut, worth nearly £900 million per year
• The UK will host the G20 summit in 2027, giving it a platform to lead global action on development and climate

LONDON, UK – July 27, 2026 – The ONE Campaign has welcomed news that Foreign Secretary Ed Miliband will personally take up the UK’s seat as governor on the board of the World Bank, rather than delegating the role to a junior minister as is customary, calling it a welcome signal of the government’s commitment to international development and the climate crisis.

The move, reported by the Guardian, comes as Miliband said international development “is not an add-on to British foreign policy – it is central to it.”

The ONE Campaign said the real test will be whether the UK now uses its influence to push the World Bank to deliver more and faster climate finance to the most disadvantaged countries, without pushing them deeper into debt.

The World Bank is one of the largest sources of annual finance for international development in the world – funding that underpins job creation, education, healthcare, energy access, food security and agriculture for hundreds of millions of people. As one of the Bank’s governors, the UK is in a strategic position to help direct that finance towards maximum positive impact.

The World Bank provided $118.5 billion in loans and grants in 2025 – making it one of the largest sources of annual development finance in the world.

Adrian Lovett, UK Executive Director of the ONE Campaign, said:

“It’s vital that Ed Miliband fully represents the whole of his FCDO brief – that includes ‘D for Development’. This is a good signal. 

“He rightly recognises that institutions like the World Bank need to be firmly pointed towards outcomes that mean more children and young people around the world have the opportunity to survive and thrive. The real test will be whether the government uses its influence to unlock more finance, faster, and on equitable terms to the countries that need it most – without deepening the debt burdens they already carry.”

“This is good for us here in the UK, too. Security, pandemic preparedness and climate are all shared challenges – we are only as strong as our neighbours and partners. Smart, targeted investment in development now protects us all from crises in the coming decades. With the UK set to host the G20 in 2027, this is exactly the kind of leadership we need to see now.”

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For more information, please contact Ben Weich, Senior UK Media and Strategic Communications Manager, ONE Campaign: [email protected] / 07792 667241.

Notes to Editors

• The World Bank distributed $118.5 billion in loans and grants in 2025. [Source: World Bank – https://www.worldbank.org/en/about/annual-report/financial-summary]
• The UK is one of six countries, alongside the United States, Japan, China, Germany and France.
• Annual UK bilateral aid to Africa will be cut by 56% by 2028/29, or £875 million; total UK ODA has fallen to 0.3% of GNI – a cut worth £6 billion per year
  https://www.gov.uk/government/publications/fcdo-annual-report-and-accounts-2025-to-2026 

About the ONE Campaign

ONE is a global, nonpartisan organisation advocating for the investments needed to create economic opportunities and healthier lives in Africa. Since 2004, we have helped secure more than $1 trillion in new investments to build a safer, more prosperous world. Our trusted advocacy combines hard-hitting data, grassroots activism and political engagement to influence decision-makers and drive lasting change. Learn more at ONE.org