KABUL (Pajhwok): The World Bank's office in Afghanistan has reopened and resumed its activities, including the settlement of outstanding dues owed to contracting firms in the country, the Ministry of Finance (MoF) announced on Saturday.

In a statement, the ministry said the office's reopening followed sustained efforts and continued coordination and cooperation between MoF and the World Bank.

It said the World Bank has now begun repaying funds owed to projects and contracting firms whose documentation had been completed and processed before the re-establishment of the Islamic Emirate of Afghanistan (IEA).

It added that the repayment process - concerning project funds and payments to contracting companies that have been reviewed and finalised by the Bank's third-party monitoring agency (TPMA) and the MoF - was now underway.

Based on assessments, the World Bank owes nearly 45 million US dollars to contracting companies. This amount will be paid to the respective firms in four stages, in coordination with the Ministry of Finance.

In the first phase, approximately 9.3 million US dollars will be paid directly by the World Bank to foreign contracting firms. In the second phase, which has already begun, 16.8 million US dollars will be paid to companies through the Ministry of Finance. The remaining payments will be made during the third and fourth phases in due course.

The ministry hailed the repayment process as a positive step, achieved through the efforts and effective cooperation of the Islamic Emirate. It said the move reflected the IEA's commitment to effective and accountable governance and to safeguarding the rights of Afghan citizens.

kk/ma

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