World Bank Announces Suspension of Aid to Afghanistan... "Concerns Over Impact on Women"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Following the Taliban's takeover of Afghanistan and the subsequent cutoff of funding by the United States and Western countries, the World Bank has also announced that it will suspend financial support to Afghanistan.

On the 24th (local time), the World Bank issued a statement after its board meeting, declaring, "We are suspending financial support to Afghanistan," and expressing "deep concern about the situation and outlook in Afghanistan, especially the impact on women." It further emphasized, "We will closely consult with the international community and partners regarding the situation in Afghanistan and seek ways for the World Bank to remain engaged to sustain the hard-won development in Afghanistan."

The World Bank has provided a total of $5.3 billion (approximately 6.18 trillion KRW) in funding to Afghanistan since 2002, shortly after the U.S. war in Afghanistan, and has carried out more than 20 development projects. It is also reported that all staff of the World Bank's Afghanistan office have evacuated to Pakistan.

Prior to the World Bank, the International Monetary Fund (IMF) announced on the 18th that it would withhold the allocation of Special Drawing Rights (SDR) worth approximately $440 million scheduled for Afghanistan. The IMF stated, "There is no international consensus on recognizing the Taliban-led Afghan government," and emphasized, "As a result, Afghanistan cannot access IMF resources, including SDRs." As the U.S. and Western countries continue to cut off funding to the Taliban, it is expected that international organizations will maintain the suspension of resources to Afghanistan going forward.

This content was produced with the assistance of AI translation services.