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World Bank Halts Financial Support to Afghanistan

in Afghan Business

World Bank Halts Financial Support to Afghanistan

World Bank announces that it has halted its financial support to Afghanistan amid concerns over the fate of Afghan women under the Taliban. 

We are deeply concerned about the situation in Afghanistan and the impact on the country’s development prospects, especially for women,” World Bank spokesperson Marcela Sanchez-Bender said in a statement to CNN Business.

As per the World Bank’s policies, it cannot disburse funds when there is no agreement by its 189 member countries over the legitimacy of a country. 

About $4.8 billion of the Bank’s support has come in the form of grants, while $436 million has been in the form of no-interest loans.

The Afghanistan Reconstruction Trust Fund, which has been supported by funding from 34 donor countries, is also affiliated with the World Bank. 

The takeover of the country by the Taliban has left the country’s future in limbo. The Taliban have not yet formed their government. Both public  and  private sectors are mostly shut down. The country is facing a huge refugee and humanitarian crisis. 


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