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World Bank halts funding projects in Afghanistan amid Taliban control

The World Bank halted funding for projects in Afghanistan after the Taliban seized control of the country.

It cited concerns over how the Taliban’s takeover will affect “the country’s development prospects, especially for women”.

The move comes just days after the International Monetary Fund (IMF) suspended payments to Afghanistan.




The Biden administration has also frozen the assets of Afghanistan’s central bank that are held in the US.

The United State so far has committed $5.3 billion in reconstruction and redevelopment works.

“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 said.



“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 World Bank team Kabul were safely evacuated from Afghanistan to Pakistan on Friday.

The decision by the World Bank to suspend payments to Afghanistan is the latest financial blow to the country’s new government.

Last week, the IMF announced that Afghanistan will no longer be able to access the global lender’s resources.

An IMF spokesperson said it was due to “lack of clarity within the international community” over recognizing a government in Afghanistan.

Also in the days after the Taliban took control of Kabul, the White House said any assets that Afghanistan’s central bank has in the US would not be made available to the Taliban.

Da Afghanistan Bank has reserves of roughly $9 billion, most of which is held in the US.