World Bank announces suspension of direct funding to Niger Republic
The World Bank has announced to suspend direct disbursements of funds to Niger Republic one week after the military took over power from President Mohamed Bazoum.
The World Bank made this known in a statement on its website on Tuesday.
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“The World Bank believes that peace, stability, and rule of law are fundamental for creating a world free of poverty on a livable planet. We are alarmed by efforts to overthrow the democratically elected government in Niger,” the bank stated.
“In response, the World Bank has paused disbursements for all operations until further notice other than private sector partnerships which will continue with caution.
“We will continue to closely monitor the situation. We are driven by the ambition to improve the quality of life and opportunities for the people of Niger.”
Neptune Prime had earlier reported that leaders of the Economic Community of West African States (ECOWAS) led by President Bola Ahmed Tinubu had on Sunday, July 30, 2023 issued a seven-day ultimatum for the military to return power to the democratically elected president, Bazoum or face consequences.
Also, the African Union (AU) has issued a 15-day ultimatum to the military junta to constitutionally restore power to the president.
