Business + Finance

Big Implications At The UN For Brexit

The financial and political implications of Britain’s decision to leave the European Union could directly affect global development.

In some ways, not much will change at the United Nations for the United Kingdom. It will, for example, remain on the Security Council as a veto-wielding permanent member. And even though it will not formally be a member of the EU voting block, there is nothing formally preventing the UK from coordinating and cooperating with the EU at the General Assembly or other UN forums.

But elsewhere in the United Nations system — particularly in the parts that deal with international development and humanitarian relief — the Brexit could be profoundly consequential.

The European Union is the largest contributor of international development aid and humanitarian assistance worldwide, disbursing about $16 billion over the last three years.

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