Afghanistan to receive $200 million from the World Bank

The Afghan Ministry of Finance discusses the logistics of receiving a $200 million fund in incentives.

Officials at the Ministry of Finance said a proposal for the package was submitted to the World Bank Board of Directors early this year which has been approved and is now transferrable to Afghanistan.

The World Bank’s $200 million incentive package for Afghanistan is aimed to boost the national budget as well as to support the fight against the Coronavirus.

Officials at the ministry of finance say that the package comes with a specific plan of action developed by both, the World Bank and the government of Afghanistan.

“The$200 million funds from the World Bank is an incentive package to Afghanistan, most of which will be spent at the government’s priorities,” said Shamroz Khan Masjidi, the spokesman for the Ministry of Finance.

Economists believe that the Afghan economy has been affected by the Coronavirus pandemic; therefore, this package from the World Bank is vital and should be managed properly.

“A number of international organizations, including the World Bank, have provided assistance to Afghanistan, and the government should make good plans to manage its consumption to prevent corruption,” said Kamaluddin Kakar, an economist.

According to economists, the government will face a financial crisis if the Ministry of Finance does not consider transparency in the use of the packages received in aid.