World Bank pauses Mali payments after coup

The World Bank said it had temporarily paused payments to operations in Mali after the military seized power from the transitional president and prime minister.

The Bank's actions add to pressure on Mali's military leadership after chief security ally France announced on Thursday it was suspending joint operations with Malian troops in order to press for a return to civilian rule.

"In accordance with the World Bank policy applicable to similar situations, it has temporarily paused disbursements on its operations in Mali, as it closely monitors and assesses the situation," the Bank said in a statement to Reuters.

Malian soldiers arrested interim President Bah Ndaw and Prime Minister Moctar Ouane and pressured them to resign, derailing a transition to democratic elections after another military coup last August.

Assimi Goita, a colonel who led the August coup and last week's revolt, was declared president last Friday having served as vice president under Ndaw.

In response, the African Union and a West African regional bloc suspended Mali's membership but did not impose further sanctions.

A largely desert country, Mali ranks 184 out of 189 countries and territories in the United Nations' Human Development Index. - Nampa/Reuters