Mali’s interim president Bah Ndaw and other leading officials were rounded up and arrested by soldiers last Monday for allegedly failing in their efforts to lead the country’s democratic transition after a military coup in August.
The World Bank, which is currently funding $1.5 billion worth of projects in Mali, informed a news agency about the suspension.
“In accordance with the World Bank policy applicable to similar situations, it has temporarily paused disbursements on its operations in Mali, as it closely monitors and assesses the situation,” the bank said in a statement.
Colonel Assimi Goita, who led the two coups, was declared president late last week after having previously served as vice president under Ndaw.
According to local reports, Goita will name the leader of opposition coalition M5-RFP, Choguel Maiga, as prime minister.
He has also pledged to continue with Mali’s scheduled elections, which are planned for 2022.
Mali’s military has faced growing regional and international pressure over the coup, with France announcing the suspension of all of its joint operations with the country on Thursday.
Mali’s military has also received backlash from within the continent, with both the African Union (AU) and the Economic Community of West African States (ECOWAS) announcing the country’s expulsion from the groups this week. The French Defense Ministry said its suspension is a “conservative and temporary measure” pending guarantees from Mali’s interim military leader that the elections will take place in February of next year.
Unlike ECOWAS, which did not take further measures against Mali, the AU threatened the country with sanctions.
On Friday, at a rally in the Malian capital Bamako, Maiga told the crowds that “sanctions and threats will only complicate the situation.”