pledge
verb [ T ]
uk/pledʒ/ usto make a formal promise to do something:
pledge to do sth The UK chief executive has pledged to slash costs by £150m a year by 2014.
pledge $32m/£100,000, etc. to/for sth EU leaders pledged $1.2 billion to the region over the next 18 months.
pledge that sth He pledged that a reduction in the burden of taxation will become the central economic objective of the government.
LAW
to give something valuable to a person or organization that has lent you money, which they can keep if you fail to pay back the loan:
pledge sth as collateral/security Shares are frequently pledged as collateral for loans.
pledge
noun [ C ]
uk/pledʒ/ usa formal promise to do something:
a campaign/election/manifesto pledge
a pledge to do sth Analysts warn that OPEC's pledge to ramp up oil production in order to ease record crude prices will not have the desired effect.
make/honour/sign a pledge Campaigners have accused Congress of failing to honour its US funding pledges.
a pledge that sth Their goal of increasing electricity production from renewables by 40% has been reinforced by a pledge that they will not support further development of nuclear power.
LAW
something valuable that is given to a person or organization that has lent you money, which they can keep if you fail to pay back the loan:
Serious financial irregularities took place, including the pledge of already paid-for securities.