COVID-19 Crisis: World Bank Approves $ 400m to Help Afghanistan

The World Bank on Friday approved a USD 400 million grant to help Afghanistan “sustain the pace of key economic and public finance reforms and support the country to manage current risks and uncertainties compounded by the COVID-19 crisis.
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“The Incentive Program Development Policy Grant comprises USD 160 million from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries and USD240 million from the Afghanistan Reconstruction Trust Fund (ARTF), managed by the World Bank on behalf of 34 donors,” the bank said in a statement.

According to the statement, the Incentive Program Development Policy Grant will support a range of key reforms to improve business regulation and encourage private investment, expand social inclusion and support civil service reforms, increase resilience to natural disasters, improve tax administration and public financial management, and safeguard fiscal sustainability.

“Today’s Board approval is a strong indication that the World Bank is redoubling its efforts to help Afghanistan and its people beyond the current COVID-19 crisis,” said Henry Kerali, World Bank Country Director for Afghanistan.

“This assistance will help Afghanistan maintain its reform momentum throughout a difficult period and provide vital financial support to the government to manage revenue shortfalls arising from coronavirus impacts,” said Kerali.

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