WASHINGTON: The World Bank said on Wednesday it will release $100 million in frozen donor money to Afghanistan following the approval of a new loan International Monetary Fund loan program.
"With the IMF's approval on Nov. 14 of a new three-year program for Afghanistan, the World Bank will authorize the release of $100 million for the Afghan government's operating budget," Josephine Bassinette, acting country director for Afghanistan, told Reuters in an email.
The aid, which is held in a World Bank-administered Afghan Reconstruction Trust Fund (ARTF), was held up since March after the IMF suspended its Afghan program in September 2010 over the handling of a bank corruption scandal.
On Tuesday, the IMF approved a new $133.6 million loan deal, saying the authorities were addressing the mismanagement and corruption at Kabulbank, and taking steps to strengthen the country's financial system.
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