The Strategist

Worldbank reacts to Ukraine's situation

03/03/2022 - 09:26

The World Bank says it has halted all its programmes in Russia and Belarus.

Jaakko H.
Jaakko H.
The World Bank said it had halted all its programmes in Russia and Belarus in light of developments in Ukraine, the financial institution said in a statement. 

"The World Bank Group has not approved any new loans or investments in Russia since 2014. There have also been no new loans approved for Belarus since mid-2020. 

With the start of Russia's invasion to Ukraine and hostile actions against the Ukrainian people, the World Bank Group immediately halted all its programs in Russia and Belarus," the statement reads.

Russia launched its operation in Ukraine in the early hours of Thursday, February 24.


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