World Bank stops all projects in Russia, Belarus with 'immediate effect'
Washington, Mar 3: The World Bank has announced that it will stop all its programmes in Russia and Belarus with "immediate effect" in response to Moscow's military operations in Ukraine and "hostilities" against the people of the war-torn country.
On February 24, Russian forces launched military operations in Ukraine, three days after Moscow recognised Ukraine's breakaway regions - Donetsk and Luhansk - as independent entities.
The decision comes as a large number of countries, organisations and businesses are severing ties and have imposed sanctions on Russia over the country's invasion of Ukraine, and with Belarus for its support and cooperation with Moscow.
The World Bank Group has not approved any new loans to or investments in Russia since 2014. There has also been no new lending approved to Belarus since mid-2020," the Washington-based global lender said in a statement on Wednesday.
"Following the Russian invasion of Ukraine and hostilities against the people of Ukraine, the World Bank Group has stopped all its programmes in Russia and Belarus with immediate effect, the statement said.
The banking organisation, with 189 member countries across the globe, has not approved any new loans or investments in Russia since 2014, when the country annexed the Crimean Peninsula in Ukraine, or in Belarus since 2020, following a disputed presidential election, The Hill reported.
After Russia invaded, World Bank President David Malpass condemned the assault, saying the group was "horrified by the shocking violence and loss of life as a result of the events unfolding in Ukraine."
"We are a long-standing partner of Ukraine and stand with its people at this critical moment," Malpass had said in a statement.
On Tuesday, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said it was considering Ukraine's request for emergency financing, while another programme gave the nation access to USD 2.2 billion through the end of June.
The World Bank Group also announced on Tuesday it was providing a USD 3 billion support package to assist Ukraine.
On March 1, both the IMF and the World Bank Group released a statement on the war in Ukraine, saying "We are deeply shocked and saddened by the devastating human and economic toll brought by the war in Ukraine.
"People are being killed, injured, and forced to flee, and massive damage is caused to the country's physical infrastructure. We stand with the Ukrainian people through these horrifying developments."
The US along with its key allies, including the EU and the UK, have disconnected key Russian banks from the interbank messaging system, SWIFT and impose restrictive measures on its central bank.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
Based in Belgium, the system is considered central to the smooth functioning of global finances and Russia's exclusion from it would hit the country hard.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Bengal: On way to PM's rally, 3 mowed down by train amid dense fog
Kolkata (PTI): Three persons died and three others were injured after being hit by a train amid dense fog on Saturday, while travelling to attend Prime Minister Narendra Modi's rally at Taherpur in West Bengal's Nadia district, a senior official said.
The incident occurred between Taherpur and Badkulla railway stations under the Sealdah-Krishnanagar section of Eastern Railway, he said.
Modi, whose helicopter could not land at Taherpur due to dense fog and low visibility, condoled the death of the “BJP workers” in his virtual address from Kolkata airport.
“I have come to know that some BJP workers, while travelling to the rally, lost their lives in a rail accident. My condolences are with the families of those who have lost their loved ones, and I pray for the speedy recovery of the injured,” Modi said.
The Eastern Railway official told PTI that the incident occurred in the morning when these people, who were travelling by a bus, had stopped the vehicle and walked to the railway tracks to answer nature's call.
"While three persons died on the spot, two others with injuries were admitted to a local hospital," he said.
Another person with minor injuries was released after having been administered first aid, the official said.
The deceased have been identified as Ramprasad Ghosh (74), Shaktipada Sutradhar (55) and Gopinath Das (38).
Meanwhile, Mahua Moitra, Trinamool Congress MP from Krishnanagar constituency in Nadia district, alleged that the BJP ignored the incident and went ahead with the rally.
"Terrible tragedy hushed up at altar of @narendramodi ego. @BJP4India supporters brought from far Murshidabad for PM rally in Ranaghat today," she said in a post on X.
"4 went to answer nature's call and were killed by 31814 down local train near Taherpur. BJP ignored, blacked out & went ahead with rally," Moitra claimed.
Reacting to her remarks, the West Bengal BJP, in a post on X, asserted that the TMC "has always been adept at milking tragedies", and was being "disrespectful to the unfortunate victims of this tragedy".
The TMC alleged that BJP leaders have not shown "neither concern nor compassion" over the mishap.
"The loss of three lives in Taherpur should have united everyone in grief. But @BJP4India leaders showed neither concern nor compassion," it said in another post on X.
"At this painful moment, Smt @MamataOfficial and Shri @abhishekaitc put humanity above party lines and stood beside the families of the deceased," the party said.
TMC’s on-ground leaders promptly reached out to the grieving family members, ensuring them of help and assistance, it said.
"While Delhi’s rulers chase Bengal with arrogance, our leadership chose empathy. This is the difference between politics of power and politics of people!" the TMC added.
