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Non-payment status

    ABIDJAN

    The World Bank group has added Cote d'Ivoire to its 'countries in non-accrual status' list after the West African country fell behind by more than six months on payments amounting to US $74.9 million, the Bank announced on 1 March.

    A country is placed in non-accrual status "if payment on any loan or credit is overdue by more than six months", the Bank said. The World Bank group's policy is that all overdue payments to it "must be cleared before the Bank can extend any new loans/credits or resume disbursements on already approved loans/credits." Cote d'Ivoire is also behind on payments amounting to US $6.1 million that are due to the International Development Agency (IDA), the World Bank's soft loan arm.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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