https://en.sputniknews.africa/20240630/world-bank-blocks-60-mln-for-mali-while-country-is-in-financial-difficulty-minister-says---1067300362.html
World Bank Blocks $60 Mln for Mali While Country is in Financial Difficulty, Minister Says
World Bank Blocks $60 Mln for Mali While Country is in Financial Difficulty, Minister Says
Sputnik Africa
Mali's economic situation is exacerbated by security problems. The country is located in the Sahel region, which is plagued by a jihadist insurgency. In... 30.06.2024, Sputnik Africa
2024-06-30T10:19+0200
2024-06-30T10:19+0200
2024-07-01T17:36+0200
sub-saharan africa
world bank
economy
mali
senegal
niger
west africa
finance
finance minister
https://cdn1.img.sputniknews.africa/img/07e8/06/1d/1067298930_0:38:1284:760_1920x0_80_0_0_9aa1362da38c69274eb6d7a4c78d39ea.jpg
The World Bank is blocking a $60 million loan for Mali while the country is in financial difficulties, the country's finance minister, Alousséni Sanou, said during an intervention before the National Transitional Council.The international institution is proposing unfavorable conditions for the disbursement of this amount, the official explained. Bamako signed a contract with Niamey to buy oil at advantageous prices in order to support its energy sector. However, the World Bank requires Mali to buy electricity from the countries of the Senegal River Development Organization, of which Niger is not a member, he noted.In addition, the bank is demanding a reduction in the workforce in order to mobilize the sum – a measure that could lead to layoffs and have a negative impact on the economic situation, the minister added.The $60 million loan was negotiated last April. It was intended to "improve energy supply" and finance the installation of photovoltaic infrastructure to diversify the country's energy sector.
https://en.sputniknews.africa/20240628/future-of-sahel-is-now-decided-by-its-people-malian-foreign-minister-declares-in-eu-1067286390.html
mali
senegal
niger
west africa
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2024
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
world bank, economy, mali, senegal, niger, west africa, finance, finance minister
world bank, economy, mali, senegal, niger, west africa, finance, finance minister
World Bank Blocks $60 Mln for Mali While Country is in Financial Difficulty, Minister Says
10:19 30.06.2024 (Updated: 17:36 01.07.2024) Mali's economic situation is exacerbated by security problems. The country is located in the Sahel region, which is plagued by a jihadist insurgency. In September 2023, the country, along with its neighbors Niger and Burkina Faso, formed the Military Alliance of Sahel States to jointly combat the threat.
The World Bank is blocking a $60 million loan for
Mali while the country is in financial difficulties, the country's finance minister, Alousséni Sanou, said during an intervention before the National Transitional Council.
The international
institution is proposing unfavorable conditions for the disbursement of this amount, the official explained. Bamako signed a contract with Niamey to buy oil at advantageous prices in order to support its energy sector. However, the World Bank requires Mali to buy electricity from the countries of the Senegal River Development Organization, of which Niger is not a member, he noted.
In addition, the bank is demanding a reduction in the workforce in order to mobilize the sum – a measure that could lead to layoffs and have a negative impact on the economic situation, the minister added.
The $60 million loan was negotiated last April. It was intended to "improve energy supply" and finance the installation of photovoltaic infrastructure to diversify the country's energy sector.
