The World Bank expressed, yesterday Wednesday, its "concern over the efforts to overthrow a democratically elected government in Niger," adding that it has "suspended the disbursement of funds for all its operations in the country until further notice."

The bank stated in a statement that its partnerships with the private sector "will continue cautiously," adding that it "will closely monitor the situation" following the coup in the country.

The World Bank spent $1.5 billion in Niger in 2022 through various assistance programs it provides, and it has spent $730 million since the beginning of the year. The International Monetary Fund also provides several assistance programs but has not yet announced a suspension of its funding operations in Niger.

The funding provided by the IMF through signed programs with beneficiary countries is conditional on phased commitments that the countries pledge to meet within regular periods, and these are evaluated during periodic meetings between the body and the government. The IMF's latest program for assisting Niger, amounting to $131.5 million, was signed on June 5, and its first interim meeting has not yet been held.

For its part, a spokesperson for the IMF stated that the organization "continues to monitor the situation in Niger with concern," adding: "We are worried about the political events in Niger and their implications for the country and its people."

Last week, Nigerian President Mohamed Bazoum stated that he had been subjected to a coup led by General Abdourahamane Tiani, and an extraordinary summit of the Economic Community of West African States was held on Sunday in Abuja, of which Niger is a member, along with 14 other countries.

At the conclusion of the summit, the group requested the "immediate release" of President Bazoum and a "full return to constitutional order in the Republic of Niger."

It also warned that if the "demands are not met within a week," the group "will take all necessary measures... and these measures may include the use of force."