UPDATE 1-World Bank, African Development Bank suspend Mali funds

Thu Mar 22, 2012 6:57pm EDT

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WASHINGTON, March 22 (Reuters) - The World Bank and African Development Bank on Thursday condemned the military coup in Mali and suspended project financing to the West African country, the institutions said in a joint statement on Thursday.

"Our development operations are suspended, with the exception of emergency assistance," the institutions said, calling for a speedy resolution of the crisis.

The overnight mutiny by low-ranking soldiers toppled President Amadou Toumani Toure's government. The soldiers were angered by the government's failure to end a two-month-old separatist rebellion in the north of the West African country.

The statement by the World Bank and African Development Bank followed a move by the regional decision-making body ECOWAS, which said it would not recognize the junta.

(Reporting By Lesley Wroughton; Editing by Andrew Hay and Diane Craft)

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