Tuesday, January 31, 2006

International Development: World Bank closes Lithuanian office - country now wealthy enough to be a donor

The World Bank, is closing its office in Lithuania, as the Baltic state has become so prosperous it is now considered wealthy enough to be a donor nation.

According to Mantas Nocius, head of the Bank's bureau in Vilnius, "Gross national income per capita in Lithuania last year totalled $5,740, while the World Bank's threshold for borrowers was $5,685 dollars."

Lithuania hasn't borrowed from the bank since 2002.