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UN overhauls financing cuts US share and raises others
After a yearlong push the General Assembly approved a major overhaul of UN financing. The United States cut its regular budget share from 25 to 22 percent and its peacekeeping share from 31 to about 27 percent, while 18 developing nations see higher dues. South Korea pressed for changes and Ted Turner’s $34 million gift helped secure the deal. China and Russia also adjusted payments as Japan’s cut was modest and the EU faced a smaller rise. Secretary-General Annan called it a gift for a firmer financial footing as Washington faces pressure to pay in full. The agreement creates separate budgets for day-to-day operations and peacekeeping.
MENTIONED IN THIS ARTICLE
United Nations
General Assembly
U.N
U.S
South Korea
Czech Republic
Britain
China
United States
Assembly
Harri Holkeri
Finland
Richard Holbrooke
George Bush
Holbrooke
Congress
Ted Turner
Joseph Biden
Delaware
Senate Foreign Relations Committee
Biden
Jesse Helms
Associated Press
America
Kofi Annan
United States Administration
Washington
Singapore
Brazil
South
Korea
Annan
Madeleine Albright
Stephen Bosworth
New York
Seoul
Japan
European Union
Russia
Moscow
South Africa
Shadrack Kumalo
Non-Aligned Movement of Developing Nations
55Th General Assembly