© Reuters. FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo
WASHINGTON (Reuters) – The World Bank on Wednesday said it had stopped all programs in Russia and Belarus with immediate effect, following the Russian invasion of Ukraine and “hostilities against the people of Ukraine.”
In a statement, the multilateral development bank said it had not approved any new loans to or investments in Russia since 2014, the year Russia annexed the Crimea region of Ukraine.
The bank said it had not approved any new lending to Belarus since mid-2020, when the United States imposed sanctions on the country over a disputed presidential election.
World Bank halts all programs in Russia, Belarus with immediate effect
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