Connect with us

Hi, what are you looking for?

European Union

World Bank cites overdue payments, puts loans to Belarus in ‘nonperforming’ status

The World Bank announced Monday (17 October) that all Belarusian loans granted by its main lending arm were placed in “non-performing” status. Overdue payments in excess of $68.43 Million were cited by the World Bank.

According to the bank, all IBRD loans to Belarus and guarantees were affected. The bank has stopped all Belarusian programs since 2 March.

The IBRD stated that the outstanding principal in Belarus of $967m represented 0.42% of all loans outstanding. According to the IBRD, being in non-performing status results in a loss of income of around $12.75 million.

Minsk has been unable to trade in foreign currencies since the invasion of Russia by Western sanctions. Belarus has now made Eurobond payments in Belarusian rubles, in response.


The multilateral development bank immediately stopped all programs in Russia and Belarus in March after Russia invaded Ukraine on 24 February.

The United States placed sanctions against Belarus in mid-2020 for a disputed presidential election. It had already stopped lending money to Belarus.

Last week’s flurry of military activity in Belarus raised concerns that President Alexander Lukasenko might send his army to support Russia’s war effort against Ukraine.


This article is shared:

EU Reporter publishes articles sourced from many outside sources that reflect a broad range of views. These articles do not necessarily reflect the views of EU Reporter.

You May Also Like

European Union

After a Russian-occupied Zaporizhzhia nuclear plant in Ukraine was detained, U.N. nuclear watchdog chief Rafael Grossi announced that the man responsible has been released....


For many years we have seen how the Soft Power used by the Kremlin works exclusively through culture, exhibitions, musical groups presentations, etc. It...


Yesterday (8th June)  Gotham City media outlet reported that on 21 March Russian businessman Vladislav Klyushin was arrested in Switzerland at the request of...


The Azerbaijani diaspora, which numbers some 60 million people around the world has entered the virtual social media battle being waged between Armenia and...