KABUL – The World Bank Group has greenlit a strategy to allocate a staggering $300 million from its International Development Association (IDA) fund to bolster humanitarian efforts in Afghanistan.

This decision, announced today, marks the first direct injection of World Bank funds into Afghanistan since the Taliban’s ascension in August 2021. The funds, earmarked for crucial services like food, water, health, education, and employment, will be channeled through UN agencies and other international bodies, bypassing Taliban control.

The initiative, dubbed “Approach 3.0,” underscores the Bank’s commitment to delivering vital support to Afghanistan’s most vulnerable populations, despite the challenges posed by the current political landscape.

The move comes on the heels of the Afghanistan Resilience Trust Fund (ARTF) directing $1.5 billion in donor aid to assist over 25 million Afghans since the Taliban takeover.

World Bank President Ajay Banga has called for a historic replenishment of the IDA fund, which is set to conclude in 2025, highlighting the increasing demand for financial assistance in the world’s poorest nations.

Notably, the Bank remains steadfast in its commitment to women-centric projects, in defiance of Taliban policies that curtail women’s rights, particularly in education.

A spokesperson for the World Bank affirmed that the $300 million allocation will be accessible until June 30, 2025, covering the remainder of this fiscal year and the entirety of the next.

Culled from Afghanistan Times