U.S. Draft Charter Challenges Global Members with $1 Billion Contribution

A U.S. administration draft charter proposes that member countries contribute $1 billion in cash to extend their membership beyond three years. The document specifies that countries not meeting the financial requirement are subject to a three-year term limit unless they renew their contributions.

The U.S. administration has circulated a draft charter to approximately 60 countries, urging members to contribute $1 billion in cash to secure a membership tenure exceeding three years, according to sources reviewed by Reuters.

Under the guidelines disclosed in the document, which was initially reported by Bloomberg News, each participating member state is entitled to serve a term of no more than three years, with an option to renew at the chairman's discretion.

Exceptions are made for member states that contribute more than $1 billion within the first year of the charter's implementation, allowing them to bypass the stipulated term limits.

(With inputs from agencies.)