- Buried Nazi past haunts Athens on liberation anniversary
- Harris to release medical report confirming fitness for presidency: campaign
- Nobel prize a timely reminder, Hiroshima locals say
- Hezbollah fires at Israel as wars rage on Yom Kippur
- Analysts warn more detail needed on new China economic measures
- China tees up fresh spending to boost ailing economy
- China says will issue special bonds to boost ailing economy
- China offers $325 bn in fiscal stimulus for ailing economy
- Dodgers drop Padres 2-0 to advance in MLB playoffs
- Alexei Navalny wrote he knew he would die in prison in new memoir
- Last-minute legal ruling allows betting on US election
- Despite hurricanes, Floridians refuse to leave 'paradise'
- Israel observes Yom Kippur amid firestorm over Lebanon strikes
- Trump demonizes migrants in dark, misleading speech
- X says 'alert' to manipulation efforts after pro-Russia bots report
- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
World Bank endorses new Afghanistan approach which could unlock $300 mn
The World Bank's executive board endorsed a new approach to its relationship with the people of Afghanistan Thursday under which new funds of around $300 million 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."
- Resuming regional project -
On Thursday, the World Bank also approved the resumption of a $1.2 billion clean energy project known as CASA-1000, which involves three countries nearby to Afghanistan: Tajikistan, Kyrgyzstan and Pakistan.
"Construction in the other three participating countries is nearly complete and these countries have requested that CASA-1000 activities in Afghanistan resume to avoid the risk of the project becoming a stranded asset," the Bank said.
As with the IDA funding, this project will be carried out in a way that ensures it does not involve the Taliban government's systems, it added.
The World Bank had more than 80 staff in Afghanistan before the Taliban took over, causing them to leave, according to an individual with knowledge of the matter.
Some of them returned to work in Kabul more than a year ago, the person added.
P.Mathewson--AMWN