Question: What is the amount of grants recently approved by World Bank for Afghanistan?
(a) $ 250 million
(b) $ 350 million
(c) $ 450 million
(d) $ 520 million
Ans :(d)
Related facts:-
- On June 13, 2017, the World Bank announced a financing package for Afghanistan of more than $500 million to help the country through a difficult phase in its struggle to end poverty and to signal a long-term commitment to the country’s people.
- The package will help Afghanistan with refugees, expand private-sector opportunities for the poor, boost the development of five cities, expand electrification, improve food security, and build rural roads.
- The financing includes grants from the International Development Association (IDA), the World Bank’s fund for the poorest countries, as well as contributions from the Afghanistan Reconstruction Trust Fund (ARTF – managed by the World Bank) and from other partners, including Denmark, Germany and Japan.
The six grants of $520 million consist of: - $205.45 million in additional financing from IDA, donors and the ARTF to the Citizens’ Charter Afghanistan Project to support communities with internally displaced persons and returnees from Pakistan;
- $100 million from IDA to the Inclusive Growth Development Policy Grant to support reforms that expand access to economic opportunities for the vulnerable and promote private sector development;
- $20 million from IDA to the Urban Development Support Project to strengthen urban policy-making in national agencies, and strengthen management and service delivery in five provincial capital cities;
- $60 million from IDA to the Herat Electrification Project to provide access to electricity to households, institutions and businesses in selected areas of Herat Province;
- $29.45 million from IDA and donors to the Afghanistan Strategic Grain Reserve Project to finance establishing strategic wheat reserves and improve the efficiency of grain storage management;
- The Board also approved restructuring the Afghanistan Rural Access Project, which aims to benefit rural communities through access to all-season roads. The approval made it possible for ARTF to provide $105 million in additional financing to the project.
Related Links:-
http://www.worldbank.org/en/news/press-release/2017/06/13/world-bank-announces-usd500-million-afghanistan-financing
http://www.reuters.com/article/us-afghanistan-worldbank-financing-idUSKBN1942ZR?il=0