World Economy

WB to Give Afghanistan $500m

WB to Give Afghanistan $500m WB to Give Afghanistan $500m

The World Bank Wednesday announced a financing package for Afghanistan of more than $500 million to help the country through a difficult phase in its struggle to end poverty and to signal a long-term commitment to the country’s people, reliefweb reported. The package will help Afghanistan with refugees, expand private-sector opportunities for the poor, boost the development of five cities, expand electrification, improve food security, and build rural roads. The financing includes grants from the International Development Association, the World Bank’s fund for the poorest countries, as well as contributions from the Afghanistan Reconstruction Trust Fund (managed by the World Bank) and from other partners, including Denmark, Germany and Japan. “Today’s approval of new grants confirms the World Bank Group’s strong commitment to the people of Afghanistan in helping them overcome the daunting development challenges facing the country,” said Shubham Chaudhuri, World Bank country director for Afghanistan. “Despite steady and encouraging progress by the government in several areas—including institutional reforms, revenue generation, provision of basic services in health, education, and rural access sectors—much more needs to be done to improve economic growth and prosperity.”


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