World Bank freezes funds for projects in Afghanistan

RNS: The World Bank has ceased funding for projects in Afghanistan following the Taliban’s takeover. Concerns have been expressed by the World Bank about how the Taliban’s takeover may harm the country’s development prospects, particularly for women.

Last week, the IMF announced that Afghanistan will no longer be able to access the global lender’s resources.

Since 2002 the Washington-based World Bank has committed more than 5.3bn US Dollars to reconstruction and development projects in Afghanistan.

A Spokesperson of IMF has told the media that they have paused disbursements in their operations in Afghanistan and they are closely monitoring and assessing the situation in line with their internal policies and procedures.

The institution will continue to consult closely with the international community and development partners. And they are exploring ways to remain engaged to preserve hard-won development gains and continue to support the people of Afghanistan.

The USA has also frozen the assets of Afghanistan’s central bank that are held in the country. Da Afghanistan Bank has reserves of roughly 9bn US Dollars most of which is held in the US.

Also in the days after the Taliban took control of Kabul, the White House said any assets that Afghanistan’s central bank has in the US would not be made available to the Taliban.

Leave a Reply

Your email address will not be published. Required fields are marked *