World Bank Halts Financial Aid to Afghanistan

The World Bank has halted funding for projects in Afghanistan, citing concerns that the Taliban takeover will impact its development prospects, especially for women.

Since 2002 the Bank has committed more than $5.3 billion to Afghanistan’s reconstruction and development projects.

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

Further, the United States has also frozen the assets of Afghanistan’s central Bank held in the US. Da Afghanistan Bank has roughly $9 billion reserves, most of which is held in the US.

There’s a similar stance from Germany and the wider European Union, who have also frozen development funds to the country in the wake of the Taliban takeover.

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