W’Bank suspends loan fees for poor nations

The World Bank has announced the removal of several loan fees to make borrowing more affordable for vulnerable countries.

The move is part of broader efforts to expand financial capacity and address urgent global challenges, including climate change, inequality, and economic fragility.

The global bank disclosed this through a link posted on its official X handle on Tuesday.

A click on the link revealed that the bank had eliminated the prepayment premium on International Bank for Reconstruction and Development loans, introduced a grace period for commitment fees on undisbursed balances, and extended its lowest pricing to small, vulnerable states.

“The bank is working hard to make it easier for countries to borrow and to pay back their loans more easily by removing some fees on IBRD loans,” the financial institution stated.