At issue is the legitimacy of Taliban rule.
The World Bank suspended funding for dozens of projects in Afghanistan. The institution has committed around $5.3 billion for reconstruction and development projects in that nation since 2002 through its International Development Association that helps the world’s most poverty-stricken nations.
There were at least a dozen active projects in Afghanistan totaling $940 million in commitments as of April, the bank said in its update earlier this year.
Under its policies, the World Bank said it cannot disburse funds when there is no agreement by its 189 member countries on whether a nation has a legitimate government. A spokesman for the bank said, “We have paused disbursements in our operations in Afghanistan and we are closely monitoring and assessing the situation in line with our internal procedures and policies.”
The move comes less than a week after the International Monetary Fund paused payments to Afghanistan and the U.S froze billions worth of assets in American accounts held by Afghanistan’s central bank.
As the Lord Leads, Pray with Us…
- For U.S. and foreign officials seeking leverage in dealing with the Taliban.
- For the people of Afghanistan who are facing the reversal of societal gains.
- For international banking and aid groups to stand firm in their determinations to provide no funding to the Taliban.
Sources: Wall Street Journal, Axios
