Faris Hadad-Zervos has been appointed the World Bank’s new Country Director for Afghanistan.
Faris Hadad-Zervos, a US citizen, began his career with the World Bank in 1996 and has previously served as country director of the World Bank for the Maldives, Nepal, and Sri Lanka.
In a statement, the World Bank quoted Zervos as saying: “I am excited to continue our support to the people of Afghanistan, together with our partners. My first priority is to ensure that the World Bank continues supporting basic services that are so essential to the welfare and future prospects of the Afghan people such as healthcare, education, food security, and livelihoods support, with a focus on ensuring that women and girls benefit.”
“It is expected that the appointment of the new country director of the World Bank for Afghanistan will impact the reduction of banking restrictions in Afghanistan and make global banking activities relatively more effective. Previously, the World Bank was involved in financing infrastructure projects, and whenever the Afghan government faced a shortfall in funding for major projects, the World Bank extended a helping hand and played a significant role in financing these projects,” said Shaker Yaqubi, an economic analyst.
Meanwhile, the Ministry of Economy urged the World Bank to resume its activities in Afghanistan and complete its unfinished projects with the appointment of the new head.
Abdulrahman Habib, spokesperson for the Ministry of Economy, said: “An easy solution for economic improvement is creating job opportunities, and with the resumption of infrastructure projects that were previously funded by the World Bank, job opportunities will be provided for many people, which will directly impact poverty reduction gradually and improve the economic situation of our people.”
The Chamber of Industries and Mines said that the World Bank supported most projects in the areas of building roads, construction, healthcare, energy, and agriculture, and the resumption of this institution’s activities will have a positive impact on economic growth.
Sakhi Ahmad Paiman, the first deputy of the Chamber of Industries and Mines, said: “We hope that the unfinished projects funded by the World Bank will resume, and with the financial support of the World Bank, these infrastructure projects will restart, which will be beneficial both for the employment of the Afghan people and for their development.”
Previously, Melinda Good served as the head of the World Bank for Afghanistan.
Earlier, Reuters reported that the World Bank would provide about $300 million in aid to Afghanistan. This money will be funded by the World Bank’s International Development Association and is set to be spent in Afghanistan by United Nations agencies without the access of the Islamic Emirate.