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World Bank places all loans to Belarus in non-performing status over missed payments

This action has been taken in accordance with the World Bank’s established procedure of placing all IBRD loans to, or guaranteed by, a country in non-performing status if payment on any loan is overdue by more than six months

WASHINGTON, October 18. /TASS/. The World Bank will place all loans provided by the International Bank for Reconstruction and Development (IBRD) to or guaranteed by Belarus into non-performing status due to missed payments starting October 17.

"Effective today, the World Bank has placed all International Bank for Reconstruction and Development (IBRD) loans to, or guaranteed by, the Republic of Belarus into non-performing status. This action has been taken in accordance with the World Bank’s established procedure of placing all IBRD loans to, or guaranteed by, a country in non-performing status if payment on any loan is overdue by more than six months. IBRD previously had suspended loan disbursements to the Republic of Belarus," according to a statement released by the World Bank on Monday.

As of October 14, 2022, "overdue payments owed by the Republic of Belarus to IBRD amounted to $68.43 million equivalent," the organization added. "The principal amount outstanding on IBRD loans is $967 million, or 0.42% of IBRD’s total outstanding loans. The effect on IBRD of Belarus loans being placed in non-performing status is a charge to income of about $12.75 million equivalent," the World Bank explained.

There has been no new lending approved to Belarus since May 2020, according to the statement.

On March 2, 2022, the World Bank Group stopped all its programs in Belarus due to the situation around Ukraine.