World Bank allocates $300 million aid to Afghanistan, away from Taliban’s reach
According to the report, The World Bank will allocate around $300 million in aid to Afghanistan, “away from the Taliban’s reach.
According to the French News Agency, The World Bank’s executive board has approved a new approach to “support the people of Afghanistan.
This is the first time since the Taliban took over the country that the World Bank is allocating money to Afghanistan.
Under the new approach referred to as “Approach 3.0,” the World Bank will revive infrastructure projects that were halted after the Taliban takeover of Afghanistan.
A World Bank spokesperson told the French news agency that based on the approach known as the “International Development Association,” which supports the poorest countries, $300 million will be allocated to Afghanistan in the next 15 months.
The World Bank, in a statement about its new approach to Afghanistan, said that since August 2021, it has provided over $1.5 billion to the Afghanistan Reconstruction Trust Fund, covering approximately 25 million people.
According to the bank, the new funds will be provided to Afghanistan as per the request of supporters of the Afghanistan Reconstruction Trust Fund. The World Bank statement does not specify the amount of the new contributions.
According to the statement, the World Bank’s new approach prioritizes women in project implementation, ensuring that projects are executed by and for women.
Resumption of “CASA-1000 Project”
The World Bank also announced in a part of its statement that the work on the Central Asia-South Asia Electricity Transmission and Trade Project in Afghanistan is being resumed.
The bank announced that the resumption of the project, which involves three countries – Kyrgyzstan, Pakistan, and Tajikistan, is at their request. Additionally, the statement noted that work on this project in three other countries is nearing completion.
The CASA-1000 project, valued at $1.2 billion, is said to transmit clean energy from Tajikistan and Kyrgyzstan through Afghanistan to Pakistan.
The World Bank, by announcing the resumption of work on this project, stated that all construction payments and revenues in the future will be managed outside of Afghanistan and will remain beyond the reach of the Taliban.
The post World Bank allocates $300 million aid to Afghanistan, away from Taliban’s reach appeared first on Khaama Press.