World Bank Announces $520Mln Afghanistan Financing Package

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WASHINGTON (Sputnik) — The World Bank announced a new $520 million financing package for Afghanistan to help boost the economy, support refugees and combat widespread poverty in the country.

“The World Bank today 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 World Bank said in a statement on Tuesday.

The aid package consists of six separate grants, the largest of which, valued at $205.45 million, will help the country support internally displaced persons and returnees from Pakistan.

Five additional grants are aimed at expanding private-sector opportunities for the poor, strengthening service delivery in five cities, expanding the electricity network in Herat province, improving food security and building rural roads.

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