The World Bank on Wednesday became the latest financial institution to suspend aid to Afghanistan, saying it’s concerned about the Taliban’s treatment of women.
In a statement, the World Bank said it is “deeply concerned” about Afghanistan’s “development prospects, especially for women.”
“We have paused disbursements in our operations in Afghanistan and we are closely monitoring and assessing the situation in line with our internal policies and procedures. As we do so, we will continue to consult closely with the international community and development partners,” the statement said.
The World Bank provides loans and grants to the governments of low- and middle-income countries for development projects with the goal of reducing poverty.
The move comes less than a week after the International Monetary Fund froze aid allocated to Afghanistan following the Taliban takeover. Last week the U.S. also froze billions of dollars worth of Afghanistan assets held in American bank accounts.
Governments, financial institutions and aid organizations around the world have halted funds to Afghanistan after the Taliban seized power.
The World Bank has committed roughly $5.3 billion for reconstruction and development projects in Afghanistan since 2002 through its International Development Association, according to its website.
As of April, IDA had 12 projects totaling $940 million in commitments, the World Bank said in an update issued earlier this year.
It had also committed $1.2 billion to 15 projects through its Afghanistan Reconstruction Trust Fund, according to the update. The trust fund is the largest single source of development, financing up to 30 percent of the country’s civilian budget and supporting government functions.
Most of that money has come in the form of grants and no-interest loans.
