'Deeply concerned': World Bank pauses financial aid to Taliban-controlled Afghanistan

The World Bank, concerned over the situation in the Taliban-controlled Afghanistan, paused financial aid to the war-torn nation, saying it is 'deeply concerned' about the situation. 

“The World Bank said that it is "deeply concerned" about the situation there after the Taliban seized power and especially the prospects for women,’’ a bank spokesperson said, quoted international news agencies. The spokesperson said that the World Bank has currently paused disbursements of its operations in Afghanistan, adding that they are closely "monitoring and assessing the situation."

There are over two dozen development projects by the World Bank in Afghanistan, which recently fell into the hands of the Taliban. The bank has provided financial aid, mostly in grants, worth $5.3 billion since 2022 to the war-torn nation. 

The World Bank's statement comes after the International Monetary Fund (IMF) blocked operations in Afghanistan, including an existing $370 million loan programme and $340 million to Kabul, which was due from Monday's release of Special Drawing Rights (SDR). 

The situation in war-torn Afghanistan worsened the US started pulling out its troops, leading to the Taliban making rapid advances in the nation, capturing its provinces as on August 15, it entered Kabul and gained control of the presidential palace, after which President Ashraf Ghani fled the nation, saying he did this to 'avoid bloodshed.' 

US President Joe Biden has set the deadline for troops' removal of August 31. Amid speculation for extension of deadline seeing the current situation of Afghanistan, Biden decided it won't be extended, saying the decision was made after consultation with his national security team.