May 19, 2022

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World Bank suspends aid to Russia and Belarus, H24info

H24info

And in Belarus, the Foundation has committed to 11 projects with a total value of 1.15 billion dollars. In Russia, the bank was implementing 4 projects representing 370 million.

Reprisals against Moscow and Minsk continue. The World Bank on Wednesday announced the immediate suspension of all its aid programs in Russia and Belarus. The Washington Foundation made this decision “in the wake of the Russian invasion of Ukraine and hostilities against the Ukrainian people.”

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In Belarus, the World Bank has committed 11 projects with a total value of $1.15 billion. In Russia, it was implementing 4 projects representing 370 million. The foundation also stressed that it had not approved “any new loan or investment in Russia since 2014,” that is, since the annexation of Crimea by Moscow. “No new loan to Belarus has been approved since mid-2020,” she said.

Help for Ukraine

The World Bank announced, on Tuesday, that it is preparing emergency aid worth three billion dollars to Ukraine, of which at least 350 million dollars could be released this week.

Another major Washington institution, the International Monetary Fund, is also considering additional assistance to Kyiv in addition to the $2.2 billion that will be issued by the end of June.

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