World Bank Halts Supporting Myanmar Projects amid Elections Woes
The World Bank has withdrawn its supports it has been offering to Myanmar to pay for its projects, this was about requests that were made after 1st February.
According to the bank`s spokesman from World Bank Myanmar country director Mariam Sherman to the Myanmar Ministry of Planning, Finance and Industry, he stated that the bank would make payments to Myanmar project suppliers, contractors, and consultants for withdrawal applications made before that date.
Due to the ongoing violence, and chaos in the country the, bank stated that they were going to put a halt in disbursing funds to Myanmar as they monitor and assess the situation either if it will worsen or get better.
The situation on a Jan 20th as police use teargas canisters to disrupt protesters Source Myanmar
This comes at a time the military coup had grasped the power and held into captivity civilian leader Aung San Suu Kyi and much of her party leadership after the military raised the alarm of irregularities in the November 8th, 2020 general elections.
This has further ignited weeks of protests and strikes leading to loss of lives and injuries.
On the other hand, the Bank also further added that it was putting in place enhanced monitoring of projects that were already underway, to ensure compliance with its policies.
World Bank President David Malpass noted last week that the bank was taking an “extra cautious” approach to Myanmar but was continuing to execute past projects, including emergency coronavirus relief.
Myanmar protest had been going on for weeks as the citizens demand the democratic human rights that they believed have been violated by the military coups.
Source Myanmar Now
Earlier on Thursday 25th, a group of military supporters appeared on the streets of Yangon attacking the anti-coup rivalries with knives and clubs a move that has now raised fears among the citizens even as Myanmar believes that there are no efforts that have been made by United Nations to protect the Myanmar Citizens against the daily attacks.
Military Supporters attacking Anti coup Citizens on 25th February: Source Myanmar Now
Ironically about one week ago, the Military coups had surrendered and they were ready to release the detained leaders and offer freedom back to the citizens.
They also added that the move to which they took of arresting the leaders including Suu Kyi was to protect the citizens and nothing else.