WB halts $200m loan to Myanmar

The World Bank has held back $200 million development policy loan to the Myanmar government due to the persecution of Rohingyas of Rakhine State, reports UNB. "We also assessed the conditions of our recently approved development policy loan and concluded that further progress is needed for the loan to be made effective," the World Bank said in a statement. As an institution dedicated to the fundamental principles of non-discrimination, social inclusion and economic opportunity for all, the WB said they are deeply concerned by the violence, destruction and forced displacement of the Rohingya.

"In the context of the crisis we have reviewed our engagement in the country to strengthen our focus on high-impact projects that support education, health services, electricity, rural roads and inclusion of all ethnic groups and religions, particularly in Rakhine state," reads the statement seen by the news agency.

The global lending agency said they are coordinating closely with the UN and the wider international community.

"Together we are encouraging the government to take urgent steps to deescalate the situation and support a broad and inclusive humanitarian response, including paving the way for the return of refugees and internally displaced populations," it said.

Earlier, Bangladesh asked the World Bank for support to cope with hundreds of thousands of Rohingya refugees.

"We have said we are ready to move with a program of support for the government, host communities and refugees," said the WB.

 

WB halts $200m loan to Myanmar

The World Bank has held back $200 million development policy loan to the Myanmar government due to the persecution of Rohingyas of Rakhine State, reports UNB. We also assessed the conditions of our recently approved development policy loan and concluded that further progress is needed for the loan to be made effective, the World Bank said in a statement. As an institution dedicated to the fundamental principles of non-discrimination, social inclusion and economic opportunity for all, the WB said they are deeply concerned by the violence, destruction and forced displacement of the Rohingya. In the context of the crisis we have reviewed our engagement in the country to strengthen our focus on high-impact projects that support education, health services, electricity, rural roads and inclusion of all ethnic groups and religions, particularly in Rakhine state, reads the statement seen by the news agency. The global lending agency said they are coordinating closely with the UN and the wider international community. Together we are encouraging the government to take urgent steps to deescalate the situation and support a broad and inclusive humanitarian response, including paving the way for the return of refugees and internally displaced populations, it said. Earlier, Bangladesh asked the World Bank for support to cope with hundreds of thousands of Rohingya refugees. We have said we are ready to move with a program of support for the government, host communities and refugees, said the WB.