The World Bank faces serious risks. Probably, the international financial institution will cease to exist. The worst-case scenario may come true. The reason of that may become a refusal of Russia to participate in additional capitalization of the bank’s assets.
In other words, the World Bank will not get any money from Russia. Maksim Oreshkin, the Minister for Economic Development, has already warned that Russia may cut off funding of the global organization unless it resumes investing into Russian projects. He said so, speaking at the meeting of the World Bank and the International Monetary Fund. According to the minister, it is rather difficult for Russia to get cheap credits due to the Western sanctions. He highlighted the importance of available lending resources for the Russian projects. At the same time, earlier Mr. Oreshkin said that sanctions favor the country’s economic development. Maybe, he has changed his mind. Now, he has given the bank an ultimatum: either it stops discriminating against Russia and agrees to cooperate or Russia stops depositing money into the bank that does not work with it.
Though 189 countries are members of the World Bank and Russia’s stake in the project is just 2.7%, there is still a little chance that the bank will go bankrupt without Russian funds.