WASHINGTON, July 29 (UPI) -- The World Bank said Thursday it is granting $456 million in additional support to Afghanistan.
This is more than half of nearly $900 million the bank has pledged Afghanistan and will be released by June next year.
"The large proportion of grant funding to Afghanistan recognizes the
scale of the challenge facing this nation as it recovers from a 20-year
conflict," says a statement the bank released in Washington Thursday.
Also on Thursday, the bank's board of directors approved a $145 million package of assistance to the country. The package includes $35 million in grant funding for education, a $25 million credit for urban reconstruction, a $80 million credit to support the Afghan government's medium-term development strategy, and a $5 million in seed money for a private investment guarantee initiative.
The credits carry no interest and just a small service fee.
