Friday, December 3, 2021
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Friday, December 3, 2021
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World Bank Halts Financial Help To War-Torn Taliban

Concerned about the situation in Taliban-controlled Afghanistan, the World Bank has halted financial aid to the war-torn country, stating that it is “deeply concerned.”

“The World Bank stated it is “deeply concerned” about the situation in Afghanistan since the Taliban took power, particularly the prospects for women,” according to a bank official, citing international news agencies. The World Bank has suspended disbursements of its operations in Afghanistan, according to the spokesperson, who added that they are “closely monitoring and assessing the situation.”

In Afghanistan, the World Bank has over two dozen development projects that have lately fallen into the hands of the Taliban. Since 2002, the bank has given the war-torn country $5.3 billion in financial aid, largely in the form of grants.

The World Bank’s announcement comes after the International Monetary Fund (IMF) halted activities in Afghanistan, including a $370 million loan programme and $340 million to Kabul, both of which were due from the issuance of Special Drawing Rights on Monday (SDR).

The scenario in the war-torn country After the United States began withdrawing its soldiers from Afghanistan, the Taliban made swift progress across the country, taking the majority of provinces. It reached Kabul on August 15 and took possession of the presidential palace, prompting President Ashraf Ghani to flee the country, claiming he did so to ‘prevent bloodshed.’

The deadline for removing troops has been set for August 31 by US President Joe Biden. In the wake of speculation that the deadline would be extended due to the present state of affairs in Afghanistan, Biden said that it would not be. He said the decision was reached after consulting with his national security staff.

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