Global financial institution, the World Bank has suspended disbursements for all its operations in Niger Republic.
The decision follows last week's military coup in the West African country, in which the elected president, Mohamed Bazoum was deposed.
The Bretton Woods institution said in a statement on Wednesday, that it was “alarmed” by efforts to overthrow the democratically elected government in Niger and had suspended disbursements in the country until further notice, except for private-sector partnerships.
The statement shared on the bank's website reads, “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.”
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