World Bank "Suspends All Support Programs in Russia and Belarus"
[Asia Economy New York=Special Correspondent Joselgina] The World Bank (WB) announced on the 2nd (local time) that it will suspend all support programs in Russia, which invaded Ukraine, and Belarus, which supported the invasion.
In a statement released that day, the World Bank said, "Due to Russia's invasion of Ukraine and hostile acts against the Ukrainian people, all ongoing programs in Russia and Belarus have been immediately suspended." This is an additional measure following the World Bank's promise of support to Ukraine the previous day.
Earlier, the World Bank and the International Monetary Fund (IMF) announced that they are preparing a package funding of $3 billion (approximately 3.6 trillion KRW) for Ukraine.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
According to the World Bank, no new loans or investments have been approved for Russia since 2014. Belarus has also been reported to have no new loans since mid-2020.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
