UNITED NATIONS - The General Assembly on Saturday approved a two-year UN budget of US$4.17 billion despite the only rejection from the United States.

The budget, proposed by UN Secretary-General Ban Ki-moon, was approved by a vote of 142 to one.

Ban welcomed the approval and also expressed his regret that the budget was not adopted by consensus, marking a break with tradition after 20 years, the UN spokesman's office said in a statement.

The Secretary-General urges all member states to return to consensus decision-making and to demonstrate a greater sense of flexibility and compromise, beyond individual national interests and in common cause of multilateralism for the good of humankind.

The US negative vote was due to a special fund of US$6.7 million in the budget for a follow-up to the 2001 World Conference Against Racism. Developing countries insisted that the 6.7 million should be funded from the regular UN budget rather than by voluntary contributions.

The United States is the world body's largest contributor, covering around 22 percent of the regular budget.

The United Nations receives its annual funding from its 192 member states which make contributions in accordance with their respective assessed ability.