Irrawaddy-Feb 25

The World Bank on Monday notified Myanmar’s military regime that it had put a hold on disbursements for its existing development operations in the country in sectors ranging from electricity and education to health following the military takeover, according to a leaked document. An official from the bank confirmed to The Irrawaddy that the statement is authentic. The Irrawaddy has learned that the bank has also suspended all ongoing projects to which it had commitments. According to the World Bank’s development project list, the bank is involved in at least 24 ongoing projects in Myanmar worth billions of dollars.

In the document, the bank informed the military regime’s cabinet that the bank “will not be processing any withdrawal applications received on or after Feb. 1,” due to the recent developments in Myanmar.

Read more at: https://www.irrawaddy.com/news/burma/world-bank-halts-payments-myanmar-coup.html