World Bank Halts Mali Financing after Coup

The World Bank said on Friday it had temporarily halted payments to operations in Mali after a military coup.

The bank's actions add to pressure on Mali's military leadership after France, a key security ally, announced on Thursday the suspension of joint operations with Malian forces in order to press for a return to civilian rule.

The military's ouster of Mali's transitional president last week, in its second coup in nine months, drew international condemnation and raised fears that the political crisis could erode regional efforts to fight Islamist militants.

The World Bank, whose International Development Association (IDA) is currently financing projects worth up to $1.5 billion in Mali, confirmed in a statement to Reuters the suspension of payments.

Asimi Goita, the colonel who led both coups, was declared president last Friday after serving as vice president under Bah Ndao, who has been leading the transition since September. Ndaw and his prime minister resigned last week while in military custody.

It is widely expected in the coming days that Goita will name Prime Minister Choguel Maiga, the leader of the opposition coalition M5-RFP who led the protests against former President Ibrahim Boubacar Keita before he was ousted last August.