World Bank approves financing worth 500 million dollars for Afghanistan to support a string of projects to boost the economy and returning Afghan refugees
WASHINGTON, Jun 14 : The World Bank approved financing worth more than 500 million dollars for Afghanistan to support a string of projects to boost the economy, help improve service delivery in five cities and support Afghan refugees sent back from Pakistan.
The bank said the six grants, including donor money, worth some 520 million dollars would help the Afghan government “at a time of uncertainty when risks to the economy are significant.
” The international troop withdrawal, which began in 2011, and political uncertainties have impacted Afghanistan’s economy, while a worsening security situation has added to budget pressures, the World Bank said.
“The package will help Afghanistan with refugees, expand private-sector opportunities for the poor, boost the development of five cities, expand electrification, improve food security and build rural roads,” the World Bank said in a statement.
In May, a World Bank report said economic growth in the country was likely to pick up this year but not enough to provide jobs needed by its growing population.