the World Bank will resume disbursements suspended after the coup

the World Bank will resume disbursements suspended after the coup
the World Bank will resume disbursements suspended after the coup

“Disbursements on all existing World Bank projects are expected to resume in the coming days”, the WB press service in Niamey told AFP. “ Niger has cleared its debts with the World Bank » This “which makes it possible to resume disbursements” And “the preparation of new financing”continues this Source.

The clearance of the debt by Niger, the amount of which is not specified, was a condition for the resumption of disbursements in favor of this poor country, led for almost ten months by a military regime.

On August 2, a few days after the coup, the WB announced that it would suspend its disbursements ” until further notice “saying to himself “Alarmed by efforts to overthrow Niger’s democratically elected government.”

THE “a few interruptions” funding allocated “especially major infrastructure projects” but “for the majority, the authorities continued, in one way or another, their implementation”notes the WB on Friday.

According to the institution, the important Kandadji hydroelectric dam project (180 km west of Niamey) on the Niger River will be able to benefit from these disbursements. This ambitious project had been paralyzed for months due to lack of funding, according to those responsible.

The WB spent $1.5 billion in Niger in 2022 through its various aid programs, mainly donations, and had paid $730 million in 2023 before the coup, according to data published on the website of the institution. After the July coup, Niger suffered from heavy economic and financial sanctions imposed by the Economic Community of West African States (ECOWAS), which lifted them in February.

According to the WB, growth in Niger “expected to rebound to 6.9% in 2024” taking into account the hypothesis “large-scale production and export of oil”. A modest producer of black gold since 2011, Niger is preparing with its Chinese partner to operate its very first international marketing of crude oil via a Beninese port.

Part of the money will go to “defense and security” of the country, faced for years with recurring and deadly jihadist violence, perpetrated by groups affiliated with Al-Qaeda and the Islamic State, according to the Nigerien military regime.

AFP

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