World Bank Returns to Kabul, Set to Release Millions in Payments
(MENAFN) The World Bank has reopened its office in Kabul and is set to restart the disbursement of nearly $50 million owed to logistics and construction companies in Afghanistan, the country's Finance Ministry announced Monday.
This move follows the suspension of financial aid by several international organizations, including the World Bank, after the Taliban's ascent to power in August 2021, which led to the cessation of numerous development projects.
According to the ministry's statement, this reopening comes after ongoing and constructive discussions between finance ministry officials and World Bank representatives. The repayment will be conducted in four stages. The initial phase will see the World Bank release $10.8 million, with the remaining $39.11 million to be paid in three subsequent installments, the statement detailed.
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