World Bank resumes operations in Kabul amid economic challenges

HOA
By
2 Min Read

World Bank Resumes Operations in Kabul, Restarting Payments and Development Projects Amid Economic Challenges.

The World Bank has reopened its office in Kabul after a hiatus following the Taliban’s return to power in 2021. Previously, the World Bank suspended operations due to political changes, but it has now resumed work on ongoing projects.

According to the Taliban’s Ministry of Finance, the World Bank owes approximately $50 million to Afghanistan logistics and construction companies. The debt will be repaid in four installments, with the first payment of $10.8 million scheduled to be disbursed directly to the companies. The remaining $39.1 million will be paid in three phases through the Ministry of Finance.

The resumption of payments is seen as a significant step in revitalizing Afghanistan’s development projects. The Ministry of Finance has emphasized that this initiative will facilitate the continuation of various infrastructure and public service projects, thereby creating employment opportunities and stimulating economic growth.

Despite the Ministry’s announcement, the World Bank has not publicly commented on the debt repayment plan. The international community remains cautious, monitoring the situation closely to assess the stability and transparency of financial transactions under the current administration.

Afghanistan is facing a severe humanitarian crisis, with over 23 million people in urgent need of assistance due to conflict, economic collapse, and drought. Basic necessities like food, clean water, and healthcare are increasingly out of reach for millions.

The situation is worsened by limited international aid, as many organizations have reduced or withdrawn their presence. This has left people vulnerable to starvation, disease, and extreme poverty, with humanitarian groups urging more global support.

Share This Article
Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *