News:Here's The World Bank's Official Statement On Lending To Zimbabwe

<vote /> The World Bank has denied media reports that it is about to resume lending to Zimbabwe. Widely-circulated reports this week suggested that the World Bank was working on a bail-out package for Zimbabwe that could see it handing over $400 million to President Robert Mugabe's government starting next year. A leaked document appeared to show that the World Bank had ignored the government's unpopular decision to print its own banknotes and turned a blind eye to recent reports of rights violations during a wave of anti-government protests.

Below is their official statement on lending to Zimbabwe:

The World Bank Group is committed to work with all partner countries, including Zimbabwe, to achieve their long term development goals. We care deeply about the well-being of the people of Zimbabwe.

Contrary to what has been reported in some media, Zimbabwe is not currently eligible for financing under IDA’s turnaround facility. The Zimbabwe Turnaround Eligibility Assessment Note that was leaked to some outlets is an unofficial draft document that has not been approved by the Bank.

The World Bank will only resume direct lending to Zimbabwe when the issue of arrears is resolved. This approach is standard to all International Financial Institutions. Upon arrears clearance, Zimbabwe would be eligible as a borrowing member of the Bank to a broad range of financing instruments.

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