World Bank 'will not lend to Greece' | Bangkok Post: breakingnews

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World Bank 'will not lend to Greece'

The World Bank will limit its work in Greece to offering expertise, and will not provide loans, the bank's president, Jim Yong Kim, said on Tuesday.

"We will not lend money to Greece'' because "this is not a country that qualifies, for example, for an IBRD loan,'' Kim told a press conference in Stockholm.

The International Bank for Reconstruction and Development (IBRD) is an arm of the World Bank which extends loans to governments, but Greece is classed as a "high income'' country, rather than the "middle income'' states to which it typically lends.

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  • bluebottle

    ThailandPost : 1,471

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    Discussion 1 : 11 Dec 2012 at 21.031

    It sounds as if it would be throwing good money at bad with little chance of being repaid.The sad thing is and it is the same in Spain, the less wealthy are paying for the behaviour of the rich.Somthing like Thailand.

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