Afghanistan Receives The Third Batch Of World Bank Cash Assistance

Afghanistan receives the third batch of World Bank cash assistance

Kabul, December 13, 2013 : .The Afghan central bank announced Monday that the third tranche of World Bank cash assistance has arrived in Afghanistan as part of its humanitarian promises to war-torn country.
De Afghanistan Bank released a statement Sunday stating that $19.2million was provided to Kabul’s Afghanistan International Bank (AIB).This bank is the biggest in Afghanistan and has international transfer capabilities to all countries, Khaama Press stated.

 Afghanistan Receives The Third Batch Of World Bank Cash Assistance-TeluguStop.com

Cash assistance is provided at a moment when Afghanistan’s local currency (Afghani), has reached an unprecedentedly low value.

One US Dollar was equivalent to 114 Afghanis on Sunday.

According to Khaama Press, the new cash batch will stabilize the Afghani.

The World Bank approved Friday transfer of $280 Million to Afghanistan.This money will be used by the World Food Programme (WFP) and UNICEF in the health and food sector.

On the next day, US State Department declared that the regulation was in place and allowed people to send money to Afghanistan.They also lifted sanctions against all involved.

MoneyGram and Western Union are the only means of money transfer to Afghanistan that resumed their operations in September.

Since the August 15 takeover of Afghanistan by the Taliban and the formation of the Taliban-led caretaker government on September 7, the country’s humanitarian situation has worsened.

In response, world governments cut off Afghanistan’s access to international funding and froze the central bank’s roughly $10 billion in assets held abroad, in a bid to stop Taliban from accessing that money.

According to UN estimates, some 23 million people are in desperate need of food, the $20 billion economy could shrink by $4 billion or more and 97 per cent of the 38 million population are at risk of sinking into poverty.


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