ADB Pledges $878 Million In Aid To Afghanistan
MEP: The Asian Development Bank (ADB) has pledged a grant of 878 million dollars in aid and assistance to Afghanistan’s development projects for the next four years.
The announcement was made between the Minister of Finance of Afghanistan and the third and concluding meeting of the 11th replenishment of ADB in the German city of Frankfurt on Monday May 2, 2016.
The amount is expected to be used in the sectors of transport, energy, natural resource and 20 million of the sum to be spent on reducing natural events.
The foreign aid from the Asian Development Bank assistance is taking place through the Trust Fund for infrastructure projects in Afghanistan (AITF).
Minister of Finance, Eklil Hakimi in the 49th session with the ADB and its officials had a comprehensive discussion on development projects in Afghanistan.
Hakimi while thanking the ADB for its assistance, said “this gives us the ability to make large-scale projects in the energy sector, transport and the implementation of our water resources and as a result the country is close to self-sufficiency.”
Thomas Panella, head of the ADB said “Asian Development Bank is committed to continue their assistance to Afghanistan, and the bank is one of the largest donors to Afghanistan’s progress.”
Hakimi, on the sideline of the meeting with the ADB Vice-President, Wencai Zhang discussed the key Brussels Conference on Afghanistan, Development projects, Afghanistan’s priorities, ANDS and ADB role in Afghanistan’s progress and prosperity.
The slogan of the meeting (working for stability) has been chosen and its focus is to achieve consistency strength of the relations between Asia and Europe.
The Asian Development Bank meeting was participated by different countries’ ministers, central bankers, businessmen, investors, journalists and members of civil society that are about three thousand people.
