Dec. 29 (UPI) -- The United States has pledged to contribute $2 billion to U.N. humanitarian efforts, slashing its funding to about one-fifth of its average annual financial commitment over the past decade, the U.S. State Department announced Monday.

The memorandum of understanding makes good on President Donald Trump's promises to dramatically reduce the amount of the United States' foreign aid and save taxpayers' money.

"The United States remains the most generous nation in the world for lifesaving humanitarian assistance -- but under @POTUS's leadership taxpayer dollars will never fund waste, anti-Americanism, or inefficiency," Secretary of State Marco Rubio said in a post on X.

"This new model will better share the burden of U.N. humanitarian work with other developed countries and will require the U.N. to cut bloat, remove duplication, and commit to powerful new impact, accountability and oversight mechanisms."

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