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In departure from "America First," U.S. ups World Bank commitment

A press conference at the World Bank's spring meetings on April 17, 2018.
International Monetary Fund officials hold a press briefing during the World Bank and IMF's 2018 Spring Meetings in Washington, D.C., on April 17, 2018. Photo: Saul Loeb/AFP via Getty Images

Last week, the Financial Times reported that the Trump administration will support a $13-billion capital increase to the World Bank. The announcement is expected to be made at the World Bank's spring meetings with the International Monetary Fund in Washington, D.C., later this week.

Why it matters: The spending increase is good news for the world's lowest-income countries, and marks an unexpected turn from the Trump administration’s isolationist agenda.