World bank grants $ 9 million for Afghanistan

The World Bank on Friday approved $19 million grant from the International Development Association (IDA) to strengthen the capacity of Afghanistan’s Central Bank to foster a sound financial system, According to UN office for human OCHA Website. The bank said in a statement that the International Development Association agreed to give19 million to help "program of rapid response in the financial sector of Afghanistan," the central bank to develop a set of action plans to strengthen the supervision of the banking sector, and the application of payment system talk to do effective and transparent transactions. The Afghanistan’s financial sector has been deeply affected by the near collapse of Kabul Bank, Afghanistan’s largest bank, in September 2010. The activities supported by the project are an important part of the international community’s collective response to assist the government in tackling the Kabul Bank crisis. And this money will be spent to solve the three major tasks, namely financial control of the ten commercial banks, developing and modernizing the national payment system, and bring them into line with international standards, besides supporting the banking and financial institutions in Afghanistan.