World Bank halts Afghanistan aid after Taliban takeover

World Bank halts aid after Taliban takeover
Source: Reuters
2 Min Read

Daily US Times: The World Bank halts funding for projects in Afghanistan after Taliban took control of the country.

World Bank expressed concerns over how the militant group’s takeover will impact “the country’s development prospects, especially for women”.

The decision comes just days after the IMF (International Monetary Fund) suspended payments to Afghanistan.

The Biden administration has also frozen the money and assets of Afghanistan’s central bank that are held in the United States.

A World Bank spokesperson said it has paused disbursements in its operations in Afghanistan and ”we are closely monitoring and assessing the situation in line with our internal policies and procedures.”

“We will continue to consult closely with the international community and development partners. Together with our partners we are exploring ways we can remain engaged to preserve hard-won development gains and continue to support the people of Afghanistan.”

Since 2002 the World Bank has committed more than $5.3bn to reconstruction and development projects in Afghanistan.

On Friday, the Washington-based financial institution said the organization’s Kabul-based team and their immediate families had been safely evacuated from Afghanistan to Pakistan.

The decision by the World Bank to suspend aids to Afghanistan is the latest financial blow to the country’s new authority.

The IMF announced that Afghanistan will no longer be able to access its resources.

A spokesperson for the IMF said last week that it was due to “lack of clarity within the international community” over recognising Afghan government.

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