World Bank approves $400 million grant for Afghanistan

The $400 million grant by the World Bank is to alleviate the COVID-19 crisis in Afghanistan.

The World Bank approved $400 million Friday to sustain reform momentum and mitigate crisis caused by COVID-19 in Afghanistan.

In a press release Friday, the World Bank announced that its board of executive directors approved a $400 million grant for Afghanistan.

The grant is aimed “to help Afghanistan sustain the pace of key economic and public finance reforms, and support the country to manage current risks and uncertainties compounded by the COVID-19 crisis”.

The release highlights, “The Incentive Program Development Policy Grant comprises $160 million from the International Development Association (IDA).”

“The World Bank Group’s fund for the poorest countries, and $240 million from the Afghanistan Reconstruction Trust Fund (ARTF), managed by the World Bank on behalf of 34 donors,” said in the press release.

Aryan News Analytical

As per estimates, since the outbreak of the Coronavirus, millions of dollars in financial aid have flowed into the administration of Afghanistan.

Point to be noted for the time to reveal is know where and how these funds will actually be spent – whether they will be managed transparently in and for what is meant for.