The World Bank has frozen financing for Cote d’Ivoire, the bank’s President, Robert Zoellick said on Wednesday, as the international community put pressure on Laurent Gbagbo to step down as president.
“They have already been frozen,” Mr Zoellick told reporters. Asked about World Bank loans to Cote d’Ivoire, which is locked in a standoff over a contested presidential election result.
Fears are growing that the dispute between Mr Gbagbo and rival Alassane Ouattara, internationally recognised as winner of the election, could fan worse violence between their two camps or even tip the country back into civil war.
According to the World Bank’s website, the global lender has an aid commitment to Cote d’Ivoire of $842 million, made up of 21 financing projects or support programmes, as of January 2010.
At that date the bank had also forgiven 55 percent of Cote d’Ivoire’s debt, and Mr Zoellick warned then that future debt relief hinged on the country holding long-delayed elections aimed at ending a political stalemate in place since a 2002-03 civil war.
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