The United Nations has warned that around 22 million Afghans will face an "acute" food shortage in this winter.
The bank's management will discuss the proposal at an informal board meeting on Tuesday to re-direct funds from the Afghanistan Reconstruction Trust Fund (ARTF) "to support humanitarian efforts through UN and other humanitarian agencies with presence and logistic capabilities in the country," the source said, without providing further details.
The United Nations has warned that around 22 million Afghans, or more than half the country, will face an "acute" food shortage in the winter months due to the combined effects of drought caused by global warming and an economic crisis aggravated by the Taliban takeover in August.
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The financial crunch worsened after Washington froze about $10 billion of the country's reserves and deteriorated further after the World Bank and International Monetary Fund halted Afghanistan's access to funding.
The World Bank move is part of a compromise struck with the United Nations and the US government, and could shift up to $500 million from the ARTF to humanitarian groups, according to a report by the Reuters news agency citing people familiar with the plan.
That would unlock aid but bypass the Taliban.
The next steps and timing of the release would be up to the ARTF donors, the source told AFP.
The fund currently has 34 donors and was "the largest single source of funding for Afghanistan's development, financing up to 30 percent of Afghanistan's civilian budget, and supporting core functions of the government," according to the website.
Afghanistan is an agrarian economy. It is not self-sufficient. It does not export many commodities or products. The economy basically depends on foreign aid and handouts from Western nations for survival. Now, those foreign taps are running dry.
No sooner had the Taliban taken Kabul than questions began to be asked about how they would manage Afghanistan’s economy. Do the insurgents-turned-rulers have the skills to run, say, a modern finance ministry and central bank? Will foreign donors trust
Stakes are high for the talks which follow a week of US-Taliban negotiations with both sides eyeing a resolution to the bloody 18-year conflict.
The UAE’s annual literary extravaganza, the Emirates Airline Festival of Literature began on Wednesday with a starry mix of Hollywood celebrity, award-winning authors and experts leading the field on matters shaping the world. Across the week-long event, the festival will feature almost 300 sessions, ensuring there’s something for everyone, from live music and poetry performances to workshops, film screenings, and of course inspiring talks from some of the biggest names in literature.
The earthquake was recorded at 6:44 pm (10:44 GMT), near the Moncayo district in Davao de Oro province on the island of Mindanao.
Authorities are also probing the possibility that people inside the compound helped to coordinate the attack, the senior provincial police official told AFP on condition of anonymity.