World Bank suspends all programs in Russia and Belarus

The World Bank (WB) has announced that it has suspended all of its programs in Russia and Belarus due to what is happening in Ukraine.

The statement indicated the financial institution. They noted that the World Bank Group has not approved any new loans or investments in the Russian Federation since 2014. They also noted that no new loans have been approved for Belarus since mid-2020.

“With the beginning of the Russian invasion of Ukraine and hostilities against the Ukrainian people, the World Bank Group immediately halted all its programs in Russia and Belarus,” the statement read.

And the media indicated that the World Bank is preparing a support package worth 3 billion dollars for Ukraine.

 

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