World Bank Approves $400mn To Help Afghanistan With COVID-19 Crisis and Beyond

in Afghan Business

World Bank Approves $400mn To Help Afghanistan With COVID-19 Crisis and Beyond

The World Bank Board of Executive Directors today approved a $400 million grant to help Afghanistan sustain the pace of key economic and public finance reforms, and support the country to manage current risks and uncertainties compounded by the COVID-19 crisis.

The Incentive Program Development Policy Grant comprises $160 million from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries, and $240 million from the Afghanistan Reconstruction Trust Fund (ARTF), managed by the World Bank on behalf of 34 donors. 

The Incentive Program Development Policy Grant will support a range of key reforms to improve business regulation and encourage private investment, expand social inclusion and support civil service reforms, increase resilience to natural disasters, improve tax administration and public financial management, and safeguard fiscal sustainability.

“Today’s Board approval is a strong indication that the World Bank is redoubling its efforts to help Afghanistan and its people beyond the current COVID-19 crisis,” said Henry Kerali, World Bank Country Director for Afghanistan. “This assistance will help Afghanistan maintain its reform momentum throughout a difficult period and provide vital financial support to the government to manage revenue shortfalls arising from coronavirus impacts.” 

Afghanistan faces major challenges and uncertainties in 2020. The global COVID-19 pandemic has had an immediate negative impact on Afghanistan. Border closures have severely impacted government customs receipts, while measures to contain the spread of the virus are likely to have a strong negative impact on economic activity. Poverty remains deep and widespread, while security and political uncertainties continue.


Tags assigned to this article:
World Bank aid to Afghanistan

Related Articles

Graduation of disabled people from vocational training

Upon completion of nearly a year-long vocational training, more than 500 people with disabilities (PwDs) including 211 females graduated from

Completion of infrastructural projects in Khost must be urgently addressed: IDLG

The Independent Directorate of Local Governance (IDLG) at a conference, titled “Development Conference of Khost Province” in Khost pushed for

Angus Deaton awarded 2015 Nobel economics prize

Angus Deaton, a British academic, became the winner of the Nobel economics prize for 2015 for his analysis of consumption,

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china Cheap eBooks Buy eBooks Online Discount eBooks Cheap eBooks Buy eBooks Online Discount eBooks Cheap eBooks Buy eBooks Online Discount eBooks cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china