Business
World Bank provides $200 million for Afghanistan to protect people, support businesses amid COVID-19
The World Bank Board of Executive Directors on Thursday approved a $200 million grant to help Afghanistan mitigate COVID-19 impacts and provide relief to vulnerable people and businesses.
In a statement released on Thursday, the World Bank said that the Afghanistan COVID-19 Response Development Policy Grant comprises $100 million from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries, and $100 million from the Afghanistan Reconstruction Trust Fund (ARTF), managed by the World Bank on behalf of 34 donors.
خبر:بانک جهانی امروز بسته کمک مالی بلاعوض به ارزش ۲۰۰ میلیون دالر را به هدف مقابله با اثرات منفی اقتصادی و اجتماعی بحران ناشی از شیوع ویروس کووید-۱۹ در افغانستان؛ تامین نیازمندی های مردم آسیب پذیر و حمایت از تشبثات خصوصی، تصویب کرد. https://t.co/J9t4SlbArv pic.twitter.com/RJbZzN8Sl4
— World Bank South Asia (@WorldBankSAsia) July 10, 2020
The Afghanistan COVID-19 Response Development Policy Grant will support the government of Afghanistan to strengthen policies that promote faster recovery and keep basic infrastructure such as water, electricity, and telecommunications afloat and running, the statement said.
“The program will provide vital fiscal resources to manage the impacts of the pandemic in the context of rapidly slowing economic growth and declining government revenues,” said Henry Kerali, World Bank Country Director for Afghanistan.
“Policy actions supported by the program will both help mitigate the impacts of the current crisis on the poor and vulnerable and also lay critical foundations for longer-term recovery. The World Bank will continue to stand with the people of Afghanistan through this crisis,” Kerali added.
The World Bank said that the COVID-19 pandemic has had significant adverse health, social, and economic impacts in Afghanistan, shrinking the economy and driving down public revenue.
“The grant will support changes in regulations to increase access to finance for small and medium-sized enterprises, protect healthcare workers, and raise awareness on gender-based violence in schools,” it stated.
The organization added that it will also support plans to encourage students to return to school when educational institutions are to reopen after the COVID-19 crisis.
It comes as the number of COVID-19 cases has risen to 33,908 with 957 and 20,847 recoveries in Afghanistan.
Pakistan’s kinno exports remain far below potential as regional tensions, high freight costs and weak government support continue to choke the citrus trade.
Despite being a leading global citrus producer, Pakistan is expected to export just 400,000–450,000 tonnes of kinno in the 2025–26 season, compared with an estimated capacity of 700,000–800,000 tonnes.
Exports in 2024–25 stood at around 350,000–400,000 tonnes, mainly to Russia, the UAE, Saudi Arabia, Afghanistan, Indonesia and Central Asia. While better fruit quality this season has raised hopes, persistent crossing disruptions—especially with Afghanistan—and transport bottlenecks have offset gains.
Growers say prices have collapsed sharply, forcing panic sales. Rates for large kinno have fallen from over Rs120 per kg early in the season to as low as Rs75, while smaller fruit is selling for Rs35–40 per kg amid weak demand.
Industry leaders warn the crisis is crippling processing units and jobs. More than 100 factories reportedly failed to open this season, with dozens more shutting down as exports stall. Cold storages in Sargodha are nearly full, putting fruit worth millions of dollars at risk of spoilage, while growers fear losses of up to Rs10 billion.
Exporters are urging the government to urgently resolve issues, subsidise logistics, and help access alternative markets, warning that prolonged inaction could devastate farmers, workers and the wider economy.
Iranian President Masoud Pezeshkian has said that Tehran will facilitate trade and economic exchanges with Afghanistan, including easing procedures at customs and local marketplaces.
He made the remarks during a televised interview following his visit to South Khorasan province, which shares a border with Afghanistan.
Pezeshkian, in a separate event addressing local business leaders, highlighted the province’s strategic advantages, citing its rich mineral resources, proximity to neighboring countries such as Afghanistan and Pakistan, and access to the ocean via the Chabahar port. He described the region as “a golden opportunity not found everywhere,” emphasizing its potential for economic growth and cross-border commerce.
A Kazakh delegation led by the Deputy Minister of Finance of Kazakhstan met with Sediqullah Khalid, First Deputy Governor of Da Afghanistan Bank, to discuss ways of strengthening banking and economic cooperation between the two countries.
According to a statement issued by Da Afghanistan Bank, Khalid said the central bank is keen to establish regular and effective banking relations with Kazakhstan as part of broader efforts to expand bilateral trade.
He noted that enhanced banking cooperation would help facilitate trade, investment, and wider economic interaction between Afghanistan and Kazakhstan, while also contributing to financial stability at the regional level.
Members of the Kazakh delegation also emphasized the importance of developing banking and economic ties and expressed their readiness to expand joint cooperation.
The two sides further agreed to establish technical committees from both countries to hold expert-level discussions and advance practical steps for cooperation.
Dubai Capitals and MI Emirates register key wins in ILT20
Only one of three Afghan suspects was on US terror watch list of 18,000
Afghanistan participates in Global Handball Congress as Asia reaffirms support
Afghan health minister hails India’s support, calls medical visas vital for patients
Imran Khan calls for street movement, urges public to reclaim rights
Afghanistan economy under pressure as Pakistan shocks reshape trade flows
Gaza death toll tops 70,000, health ministry says
India set to establish pharmaceutical factories in Afghanistan: MoIC
Afghanistan offers tax breaks, free land to attract Indian investors
Iran rerouting more oil to China through Indonesia to dodge US sanctions
Tahawol: CSTO’s security concerns over Afghanistan
Saar: UNAMA’s activities in Afghanistan reviewed
Tahawol: Iran’s pledges to facilitate trade with Afghanistan discussed
Saar: Discussion on severe tensions between Kabul and Islamabad
Tawsia: India’s enthusiasm for investing in Afghanistan discussed
-
International Sports5 days agoILT20: Abu Dhabi Knight Riders end Desert Vipers’ unbeaten run in dramatic one-run win
-
Latest News3 days agoAfghan border forces prevent illegal entry of hundreds into Iran
-
Latest News2 days agoPakistan summons Afghan diplomat over deadly attack in North Waziristan
-
Latest News3 days agoJapan allocates nearly $20 million in humanitarian aid for Afghanistan
-
Latest News2 days agoAfghan health minister calls for medical cooperation between Kabul and New Delhi
-
Latest News2 days agoKarzai urges reopening of girls’ schools and universities for Afghanistan’s bright future
-
Health4 days agoAfghanistan seeks India’s support in standardizing traditional medicine
-
Latest News4 days agoAfghan forces target hideout of suspects linked to cross-border attacks on Chinese nationals