Business & Economy

Taliban says World Bank to resume operations in Afghanistan

Kabul, Dec 7 (EFE).- The Taliban government said on Thursday that the World Bank is set to reopen its office in Afghanistan in the near future to complete dozens of development projects in the country.

The development comes amid a severe economic and social crisis faced by Afghanistan’s interim government, exacerbated significantly by the reduction of international aid since the Taliban regained power in August 2021.

“The World Bank will resume its operations within one month. It has agreed to commence payments for around 45 incomplete projects in Afghanistan,” Finance Ministry spokesperson Ahmad Wali Haqmal told EFE.

The spokesperson added that the agreement was the outcome of “continuous negotiations” between the Taliban government and the global lender, which had suspended almost all of its development projects since the Taliban’s return to power two years ago.

In March 2022, the World Bank had announced the resumption of several agriculture, education, and health projects valued at $600 million, and funded through the Afghanistan Reconstruction Trust Fund.

However, the projects were suspended later when the Taliban banned girls from returning to secondary schools.

After four decades of war and chaos, Afghanistan is grappling with a deep economic and social crisis, significantly compounded by the Taliban’s takeover of the country in 2021, complicating and impeding the delivery of humanitarian aid for the country’s reconstruction. EFE

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