The World Bank and African Development Bank has condemned the military coup in Mali and suspended project financing to the West African country, the institutions said in a joint statement.
“Our development operations are suspended, with the exception of emergency assistance,” the institutions said, calling for a speedy resolution of the crisis.
The overnight mutiny by low-ranking soldiers toppled President Amadou Toumani Toure's government. The soldiers were angered by the government's failure to end a two-month-old separatist rebellion in the north of the West African country.
The statement by the World Bank and African Development Bank followed a move by the regional decision-making body, ECOWAS, which said it would not recognise the junta. (Reuters/NAN)