World Bank, African Development Bank suspend Mali funds

Mali coat of arms

The World Bank and African Development Bank on Thursday condemned the military coup in Mali and suspended project financing to the 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 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 recognise the junta.



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