The World Bank has suspended funding for projects in Afghanistan after the Taliban took control of the country.
The World Bank has more than two dozen development projects ongoing in the country and has provided $5.3 billion since 2002, mostly in grants, according to the bank’s website.
The move comes just days after the International Monetary Fund (IMF) suspended operations with the country, including an existing $370 million loan program, as well as $340 million Kabul was due to receive from Monday’s release of Special Drawing Rights (SDR), the lender’s basket of currencies.
The Biden administration has also frozen the assets of Afghanistan’s central bank that are held in the US.
“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 spokesperson for the World Bank told the foreign media.
“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 spokesperson added.
On Monday, IMF Managing Director Kristalina Georgieva commended Pakistan’s exceptional assistance in evacuating its staff from the Afghan capital.
In a letter to the PM Imran Khan, Georgieva said “Pakistan’s efforts were absolutely critical to the safe and swift evacuation of IMF staff and their families from Afghanistan, my heartfelt thanks to Imran Khan for Pakistan’s exceptional assistance in very difficult circumstances!”
IMF all praise for Pakistan for safely evacuating its staff from Kabul
