World Bank To Suspend Financial Assistance To Niger Republic Over Military Take Over

Sequel to the take over of government in Niger Republic by the military barely a week ago, the World Bank on Wednesday announced that it is suspending financial assistance to the west African country.

VerseNews Nigeria reports that the World Bank said this in a statement issued on its website.

It said, “The World Bank believes that peace, stability, and rule of law are fundamental for creating a world free of poverty on a livable planet. We are alarmed by efforts to overthrow the democratically elected government in Niger.

“In response, the World Bank has paused disbursements for all operations until further notice other than private sector partnerships which will continue with caution.

“We will continue to closely monitor the situation. We are driven by the ambition to improve the quality of life and opportunities for the people of Niger.”

Recall last week Wednesday, July 26, 2023, officers of the Presidential Guard arrested President-elect Mohamed Bazoum and declared him deposed.

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This Online News Media had earlier reported that the Nigerian government has decided to cut power supply to the west African as sanctions aimed at crippling smooth running of military activities in the country.

Also, last week Sunday, leaders of the 14 Economic Community of West African States (ECOWAS) had issued a seven-day ultimatum to the military to constitutionally return power to President Bazoum.

The African Union (AU) in its own capacity gave 15 days to the military to return the barracks allow the country to continue its democratic process.

Meanwhile, the military in its response has resisted these warnings.