Authored by Priyesh Mishra | navbharattimes.com | Updated: Sep 28, 2021, 8:54 PM
The United Nations is the largest international organization in the world. It also needs huge amount of money to run its 6 bodies and agencies. In October 2020, the member states of the United Nations approved a regular budget of $ 3 billion 230 million for the year 2021 in December last year.
Politicians from all over the world are busy these days at the United Nations Headquarters in New York, USA. All these leaders are participating in the 76th session of the United Nations General Assembly. A few days ago, Prime Minister Narendra Modi also addressed the world from the platform of UNGA. This international organization with 193 member states was established in 1945 to discuss matters of peace and security. But, its work goes beyond peacekeeping and conflict prevention.
What does the UN do with the money?
United Nations agencies include organizations dedicated to a range of areas, including health and humanitarian needs, economic and cultural development. These agencies appear at the forefront to help in difficult situations anywhere in the world. Whether it is civil war, starvation or an epidemic like corona virus, the United Nations has helped most of the countries of the world.
What is the annual budget of the United Nations?
The United Nations is the largest international organization in the world. It also needs huge amount of money to run its 6 bodies and agencies. In October 2020, the member states of the United Nations approved a regular budget of $ 3 billion 230 million for the year 2021 in December last year. The organizations of the United Nations do their work from this budget.
Where does the United Nations get its money?
All 193 countries of the United Nations have to pay some money annually to this international organization in return for membership. The amount paid by each member country is called the assessed contribution. This amount is different for this country. The amount paid each year to the United Nations is determined on the basis of a complex formula taking into account the gross national income and population of the member country.
UN makes budget with mandatory contribution
These Mandatory Contributions from member countries determine the budget of the United Nations. This money is used to fund administrative costs and some programs, as well as peacekeeping missions. In 2019, the US alone paid between 22 and 25 percent of the total UN budget. Mandatory contributions also fund other UN bodies including the International Atomic Energy Agency and the World Health Organization (WHO).
Member countries can also make voluntary contributions
UN member states can also make voluntary contributions. Several United Nations organizations such as the United Nations Children’s Fund (UNICEF), the Office of the United Nations High Commissioner for Refugees (UNHCR), and the World Food Program (WFP), rely primarily on such funding. If they do not get money from rich countries, then their aid program is also affected.
Know the major agencies of the United Nations
- international labor organization
- Food and Agriculture Organization (FAO) of the United Nations
- United Nations Educational, Scientific and Cultural Organization (UNESCO)
- World Health Organization (WHO)
- World Bank Group
- International Monetary Fund (IMF)
- International Civil Aviation Organization (ICAO)
- International Maritime Organization (IMO)
- International Telecommunication Union (ITU)
- Universal Postal Union (UPU)
- World Meteorological Organization (WMO)
- World Intellectual Property Organization (WIPO)
- International Agricultural Development Fund (IFAD)
- United Nations Industrial Development Organization (UNIDO)
- World Tourism Organization (WTO)