Your are here  » Home   » Business

World Bank, African Development Bank suspend Mali funds@

BY
Updated Friday, March 23rd 2012 at 00:00 GMT +3

The World Bank and African Development Bank on Thursday condemned the military coup in Mali and suspended project financing to the West African country, the institutions said in a joint statement on Thursday.

"Our development operations are suspended, with the exception of emergency assistance," the institutions said, calling for a speedy resolution of the crisis.

The overnight mutiny by low-ranking soldiers toppled President Amadou Toumani Toure's government. The soldiers were angered by the government's failure to end a two-month-old separatist rebellion in the north of the West African country.

The statement by the World Bank and African Development Bank followed a move by the regional decision-making body ECOWAS, which said it would not recognize the junta.

-Reuters

Next Story »

More Stories
See More »

Find us on Social Media

Popular Business

Popular News

Videos

Stock Market

EQTY 45.00 -0.50
KCB 53.50 0.00
SCOM 12.00 -0.05
CABL 16.50 +0.05
KPLC 13.00 +0.05
View All Stocks »

Currencies

Forex Chart