This archive report was first published on 25 August 2021.
The World Bank has halted funding for projects in Afghanistan, a move that comes just days after the International Monetary Fund (IMF) suspended payments to the country.
The decision was made due to concerns over how the Taliban's takeover will impact 'the country's development prospects, especially for women', according to a World Bank spokesperson.
Since 2002, the Washington-based financial institution has committed over $5.3 billion to reconstruction and development projects in Afghanistan.
On Friday, the World Bank told staff that its Kabul-based team and their immediate families had been safely evacuated from Afghanistan to Pakistan.
The IMF also announced that Afghanistan will no longer be able to access its resources, citing a 'lack of clarity within the international community' over recognising a government in Afghanistan.
Additionally, the White House has frozen the assets of Afghanistan's central bank that are held in the US, with Da Afghanistan Bank holding reserves of roughly $9 billion, most of which is held in the US.
