26 August 2021

World Bank halts aid after Taliban takeover Afghanistan.

The World Bank has halted funding for projects in Afghanistan after the Taliban seized control of the country. It cited concerns over how the Taliban's takeover will affect "the country's development prospects, especially for women".

The move comes just days after the International Monetary Fund (IMF) suspended payments to Afghanistan. The Biden administration has also frozen the assets of Afghanistan's central bank that are held in the US.

Since 2002 the Washington-based financial institution has committed more than $5.3bn (£3.9bn) to reconstruction and development projects in Afghanistan.

The decision by the World Bank to suspend payments to Afghanistan is the latest financial blow to the country's new government. Last week, the IMF announced that Afghanistan will no longer be able to access the global lender's resources.

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