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World Bank suspends loan for Myanmar

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Published: 13:42, 16 October 2017   Update: 15:18, 26 July 2020
World Bank suspends loan for Myanmar

Special Correspondent: The World Bank has suspended $200 million loan to Myanmar due to the persecution of Rohingya in the Rakhine state.

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

“We assessed the conditions of our recently approved development policy loan and concluded that further progress is needed for the loan to be made effective,” the statement of World Bank reads .

“Given the scale of the humanitarian crisis there, the culpability of the government, it meets the test, in my mind, of a case where the owners of the World Bank ought to be looking at the World Bank as a potential sanctions tool,” Scott Morris, senior fellow at the Center for Global Development, told Devex prior to the bank’s announcement Thursday.


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