World Bank to aid Venezuela, leadership recognition up to shareholders

Juan Guaido, who many nations have recognised as the country’s rightful interim ruler, attends a rally against President Nicolas Maduro’s government in Caracas, Venezuela. (Reuters pic)

WASHINGTON: The World Bank is preparing to get “deeply involved” in alleviating Venezuela’s worsening humanitarian crisis, but any decision to recognise opposition leader Juan Guaido as the country’s leader is up to World Bank shareholders, the bank’s new president said on Thursday.

David Malpass, who started as the multilateral development bank’s leader on Tuesday, told a news conference that Venezuela is “something of deep concern” to the World Bank.

“The World Bank will be deeply involved and we are preparing for that but the situation is still troublesome on the ground,” Malpass said.