Banking Data Row Could Cost Afghanistan $200mn Aid from World Bank

in Afghan Business

Banking Data Row Could Cost Afghanistan $200mn Aid from World Bank

The World Bank has threatened to halt $200 million worth of aid to Afghanistan if Da Afghanistan Bank, the nation’s central bank, withholds banking data.

According to sources, the World Bank has stated the issues in a letter dated Nov 23 addressed to President Mohammad Ashraf Ghani.

“Unfortunately, we have not been able to obtain banking sector data from Da Afghanistan Bank (DAB) despite several written requests. This data is not sensitive and was shared with the World Bank prior to the release of funds under previous Incentive Programs,” the letter said.

Meanwhile, Afghan Finance Ministry spokesperson Shamroz Khan Masjidi  assured that the issue would be resolved soon.

“In the past, we would have shared a number of non-sensitive banking data with the World Bank. Now, a misunderstanding has appeared with the central bank which has not shared it with it (the World Bank) … the issue will be resolved,” Arab News quotes Masajidi.

The Afghan government recently received criticims for amending the country’s public-private parntership (PPP) law and taking control of the PPP from the Ministry of Finance. This amendment was approved by the cabinet despite written advice from the World Bank and the IMF.

“A key policy intent of the new Regulations was to align Public Investment Management (PIM) and Public-Private Partnership (PPP) processes and to ensure rigorous oversight and management of any associated fiscal risks. While the PIM Regulations have been passed, we understand that there are important inconsistencies between the PIM Regulations and recent amendments to the PPP Law, which have transferred responsibility for the management of PPPs from the Ministry of Finance (MOF) to the Administrative Office of the President (AOP),” states the letter from the World Bank.

This comes a few days after the international community renewed its long-term commitment to Afghanistan continget on effective reforms to tackle the scourge of corruption.

Elham Barekzai

Elham Barekzai


Tags assigned to this article:
Afghanistan businessAfghanistan Corruption

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