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World Bank 'will not lend to Greece'

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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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