World Bank allocates $16 mn to support women-led businesses in Afghanistan

The World Bank has allocated USD 16 million to assist small businesses in Afghanistan, especially those owned and run by women, according to Khaama Press.

The World Bank stated on Wednesday, that the Aga Khan Foundation in the United States will handle the direct distribution of this funding to the Afghanistan Reconstruction Trust Fund (ARTF).

"Supporting small financial providers in Afghanistan is one of the few actionable options currently available to enhance access to financial resources in Afghanistan, especially for women," underlined Melinda Good, country director of the World Bank for Afghanistan.

"This project aims to strengthen the small financial sector in Afghanistan so that owners of small businesses and women-led enterprises can access the necessary financial credit to rebuild their businesses, rebuild their lives, and contribute to the revival of the private sector," she said, according to Khaama Press.

 

The World Bank added that the bank is striving to increase access to financial resources in Afghanistan for small and medium-sized enterprises.

This coincides with an increase in international organisations' support for women working in the private sector, particularly in trade and investment.

According to the World Bank, the initiative will be centred in 15 provinces in Afghanistan: Kabul, Kunduz, Nangarhar, Parwan, Samangan, Sar-e Pol, Takhar, Herat, Dykundi, Faryab, and Jawzjan, reported Khaama Press.

Furthermore, the United Nations Development Programme (UNDP) has declared the alignment of multiple projects aimed at providing employment opportunities for women, emphasising that this alignment boosts Afghanistan's economy and empowers women entrepreneurs to run their companies.

In Afghanistan, women's interest in trade and business has grown as a result of limitations on their access to education and employment.