The institution announced on Tuesday that it was preparing three billion dollars in emergency aid for Ukraine.
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Economic sanctions imposed on Moscow by the Western camp are getting tougher. The World Bank announced on Wednesday, March 2, the immediate suspension of all its aid programs in Russia and Belarus, in retaliation for the invasion of Ukraine.
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The institution based in Washington (United States) also stressed in its press release that it had not approved “no new loans or investments in Russia since 2014”or since the annexation of Crimea by Moscow. “There has also been no new loan approved for Belarus since mid-2020”she clarified.
In Belarus, the World Bank had committed to eleven projects totaling $1.15 billion. In Russia, it was leading four projects representing 370 million, according to the institution’s website.
On Tuesday, the World Bank announced that it was preparing emergency aid of three billion dollars for Ukraine, of which at least 350 million could be released this week.