WASHINGTON - The World Bank's executive board endorsed a new approach to its relationship with the people of Afghanistan under which new funds of around $300-illion could be made available, outside the control of the Taliban authorities.
The Bank's new engagement with Afghanistan, dubbed "Approach 3.0," will also revive a regional infrastructure project that was paused after the Taliban took control of the South Asian country in August 2021, the Bank announced in a statement.
Under the approach, World Bank's lending arm for some of the world's poorest countries, known as the International Development Association (IDA), will make available around $300-million over the next 15 months, subject to further board approval, a spokesperson told AFP.
However, as with other World Bank funding in the country, the new funding would be deployed "through grants to United Nations agencies and other public international organizations," the Bank said in a statement announcing the board decision.
"These funds will continue supporting basic services nationwide, particularly those benefiting women, and will be outside the control of the Interim Taliban Administration (ITA)," it added.
Since returning to power in August 2021, the Taliban authorities have imposed a strict interpretation of Islam, with women bearing the brunt of laws the United Nations has labeled "gender apartheid."
In response, many governments, international organizations and aid agencies have either cut off or severely scaled back their funding for Afghanistan -- with disastrous economic consequences.
The World Bank estimates that Afghanistan's economy contracted by more than 20 percent in 2021, and by more than six percent in 2022.
The World Food Programme, which provides 90 percent of the food aid to the country, told AFP recently that it expects almost 16 million Afghans will need assistance this winter, with 2.8 million at an emergency level of food insecurity.
The World Bank said Approach 3.0 would continue implementing what it calls its "principled approach" to engagement with the Taliban authorities, which "puts women at the center of projects and ensures that project activities are implemented by and for women."