News

The World Bank is suspending all its projects in Russia and Belarus

“Following the Russian invasion of Ukraine and hostilities against the Ukrainian people, the World Bank has suspended all of its programs in Russia and Belarus with immediate effect,” the International Financial Corporation said in a statement issued at its headquarters in Washington.

The World Bank was involved in the implementation of 11 projects in Belarus with a total value of $1.15 billion. In Russia, he was implementing four projects worth 370 million, according to the foundation’s website.

The World Bank indicated in its statement, Wednesday, that it had not approved “any new loan or investment in Russia since 2014,” that is, since its annexation of the Ukrainian Crimea.

“No new loan has been approved for Belarus since mid-2020,” he said.

Russian President Vladimir Putin launched a militarization operation in Ukraine a week ago, which has sparked widespread international condemnation and increased Western sanctions against Moscow.

For its part, the International Monetary Fund is considering providing new assistance to Kyiv, in addition to the $2.2 billion it is scheduled to disburse to it until June.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button