WB suspends $200 million development policy loan to Myanmar

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Desk report, October 16: Due to the persecution of Rohingyas in the Rakhine state of Myanmar, the World Bank (WB) has held back $200 million development policy loan to the country.A statement by the World Bank said “We also assessed our recently approved development policy loan’s conditions and decided that further progress is needed for the loan to be made effective.”

The leading global lender said they were deeply concerned by the violence, destruction and forced displacement of the Rohingyas as an institution dedicated to the fundamental principles of non-discrimination, social inclusion and economic opportunity for all.

“In the context of the crisis we have reviewed our involvement in the country to put more emphasis 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.

World Bank said together with the UN and the wider international community, they are coordinating.

“The government is encouraged by us together to take urgent steps to deescalate the situation and support a broad and inclusive humanitarian response, which includes the repatriation of refugees and internally displaced populations,” the statement said.

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

“We have said we are prepared to go ahead with a program of support for the government, host communities and refugees,” the World Bank said.