The Prague Post Online
The Czech Republic celebrated its graduation from the list of countries that receive World Bank financial support at a Feb. 28 ceremony attended by World Bank President Paul Wolfowitz. The event came almost a year after the World Bank changed the classification of this country from "developing" to "developed."

The shift means that the Czech Republic will no longer be entitled to loans from the World Bank, which provides financial support to poorer countries. The Czech Republic is now classified as a donor country that is expected to contribute to foreign aid projects.