By Ebi Kesiena
The World Bank has stated that it has suspended aid to Sudan following the military takeover that deposed the Prime Minister.
World Bank President, David Malpass said in a statement that he was greatly concerned by recent events in Sudan, and fears the dramatic impact this could have on the country’s social and economic recovery and development.
This will be the latest blow to the impoverished African nation that had just won its way back into good standing with major Washington-based development lenders after years in the wilderness.
The military on Monday seized Prime Minister Abdalla Hamdok and briefly detained him in the coup that came just over two years into a precarious power-sharing arrangement between the military and civilians, after the army ousted long time autocrat, Omar al-Bashir in April 2019.
The World Bank “paused disbursements in all of its operations in Sudan and it has stopped processing any new operations as we closely monitor and assess the situation,” Malpass said.
“We hope that peace and the integrity of the transition process will be restored so that Sudan can restart its path of economic development and can take its rightful place in the international financial community,” Malpass added.
Sudan had been emerging from decades of stringent US sanctions after Washington removed the country from its state sponsor of terrorism blacklist in December 2020, eliminating a major hurdle to much-needed aid and financial investment.
The World Bank and IMF in June granted Sudan debt relief under the Heavily Indebted Poor Countries Initiative, cutting the nation’s debt in half to about $28 billion, and the institutions have offered additional help if economic reforms continue.
