- The World Bank has suspended its aid to Afghanistan, expressing serious concern about the situation there.
- According to a bank source, the World Bank waited to make a statement until all of its staff had left the country.
Concerned about the chaos in Afghanistan following the Taliban takeover, the World Bank has halted financial assistance to the war-torn Islamic country.
“The World Bank said it is “deeply concerned” about the situation in Afghanistan since the Taliban took control, particularly the prospects for women,” said a bank spokesperson to an international news agency.
World Bank 'deeply concerned,' pauses aid to Afghanistan: AFP news agency quoting an official— ANI (@ANI) August 24, 2021
“We have halted disbursements in our operations in Afghanistan and are actively watching and analysing the situation,” added the official.
“We are gravely concerned about the situation in Afghanistan and its implications for the country’s development prospects, particularly for women.”
The suspension comes in the wake of the Taliban’s quick takeover of Afghanistan, as US soldiers prepare to leave by August 31.
Washington stated last week that it will deny the Taliban access to the country’s gold and currency reserves, the most of which are stored abroad.
The International Monetary Fund (IMF) also halted operations with the country, including an existing $370 million loan programme and the $340 million Kabul was set to receive from Monday’s release of Special Drawing Rights (SDR), the lender’s currency basket.
The quick takeover has resulted in heart-breaking pictures of people fleeing the nation, especially women who fear a return to the Taliban rule of the 1990s, when women were confined to their houses, most entertainment was forbidden, and stoning and public executions were employed as punishments.
According to a bank source, the World Bank delayed releasing a statement until it had removed all of its staff from the country, which was accomplished on Friday.
The development lender, according to the spokesman, “will continue to interact closely with the international community and development partners.”
“We are investigating ways to remain involved with our partners in order to preserve hard-won development benefits and continue to help the people of Afghanistan.”
According to the World Organization’s website, the bank has more than two dozen development projects in the nation and has contributed $5.3 billion in grants since 2002.