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World Bank halts all projects in Russia and Belarus

 Vladimir Putin

Russian President Vladimir Putin. The World Bank is halting all of its ongoing projects in Russia and Belarus in response to the invasion of Ukraine.

Photo credit: AFP

The World Bank on Wednesday announced it was halting all of its ongoing projects in Russia and Belarus in response to the invasion of Ukraine.

Citing the "hostilities against the people of Ukraine," the development lender said it "has stopped all its programs in Russia and Belarus with immediate effect."