Reuters: World Bank Cites Overdue Payments, Puts Loans to Belarus in 'Nonperforming' Status
WASHINGTON (Reuters) - The World Bank said on Monday it had placed all loans made by its main lending arm to Belarus into "nonperforming" status effective immediately, citing overdue payments amounting to $68.43 million.
All International Bank for Reconstruction and Development (IBRD) loans to, or guaranteed by, Belarus were affected, the bank said. The bank stopped all programs in Belarus on March 2, and has not approved new lending to the country since May 2020.
It said Belarus' outstanding principal of $967 million amounted to 0.42% of IBRD’s total outstanding loans. Being placed in nonperforming status results in a charge to income of about $12.75 million, it said.
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WNU Editor: Belarus has not received any new loans since 2020.
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