World Bank Suspends $270 Million to Honduras
Due to the political situation in Honduras, the World Bank suspended the disbursement of a loan in the amount of $270 million to the country.
Tuesday, June 30, 2009
The World Bank currently has 16 development projects in Honduras worth $400 million, among which are the $270 million that the organization decided to suspend until the political situation is cleared up.
$684 million in projects are on hold in Honduras, due to IDB and WB freezing financial cooperation with the country.
The IDB has “detained” all credit activity with Honduras until the political situation in the country is resolved.
The World Bank announced it will resume $390 million in loans for the new Honduran government.
While the people of Honduras continue to suffer from international isolation, the political and diplomatic corporation of Latin America and the Caribbean will discuss its fate in Cancún.
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