Today: Tuesday, 16 August 2022 year

World Bank sets more than $1 bn in aid for Afghanistan

World Bank sets more than $1 bn in aid for Afghanistan

The World Bank (WB) gave the green light to a plan to use more than $1 billion from a frozen Afghanistan trust fund.

The allocated money will fund urgently needed fields of the war-torn country. Soon, the education, agriculture, health and family programmes in Afghanistan will get a source of financing, Reuters has learned.

The WB, a United Nations financial body, has said that funds will be delivered in the form of grants, aimed at supporting the delivery of essential basic services, protect vulnerable Afghans. One billion dollars will help preserve human capital and key economic and social services in Afghanistan and reduce the need for humanitarian assistance in the future.

On late Tuesday, the Washington-based institution issued a statement, which reads it will go to UN agencies and international NGOs and will “remain outside the control of the interim Taliban administration.”

The decision, which will bypass sanctioned Taliban authorities, will provide a major boost to efforts to ease the country’s worsening humanitarian and economic crises.