World Bank stops financial support to Afghanistan amid worries about fate of women under the Taliban
The World Bank suspended aid citing concerns ‘especially for women’
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Your support makes all the difference.The World Bank has halted funding for projects in Afghanistan, citing concerns over fate of women and the future of the country after the Taliban captured power in Kabul.
The officials cited “deep concerns” about the ongoing situation in Afghanistan and its “impact on the country’s development prospects, especially for women.”
The development comes as another major blow to Afghanistan’s economy after the International Monetary Fund (IMF) suspended payments and the Biden administration froze Afghan government’s assets held in the country’s central bank.
"We have paused disbursements in our operations in Afghanistan and we are closely monitoring and assessing the situation in line with our internal policies and procedures," a World Bank spokesperson told BBC.
"We will continue to consult closely with the international community and development partners. Together with our partners we are exploring ways we can remain engaged to preserve hard-won development gains and continue to support the people of Afghanistan."
The announcement came after the World Bank told its staff on Friday that all officials from the Kabul office and their families have been safely evacuated from Afghanistan to Pakistan.
Last week, the International Monetary Fund (IMF) announced to freeze the distribution of about $400 million of emergency funds to Afghanistan after Taliban’s takeover.
IMF said it was due to the "lack of clarity within the international community" in recognising the new Taliban-run government in Afghanistan.
The ongoing crisis has tanked the value of local Afghani currency against the dollar and pushed the prices of basic necessities like food and medicines, higher. The prices of staples such as flour, oil and rice have ballooned by 10-20 per cent as banks remained closed in the capital.
International aid groups also raise concerns over suspension of commercial flights into Afghanistan which can cripple the supply of aid in the country.
Previously, US said Taliban would not be allowed access to assets that were in Afghanistan’s central bank.
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