Kuwait: World Bank Reveals USD 520 Mln for AfghanistanSource: www.export-egypt.com 6/14/2017, Location: Middle East |
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The World Bank announced a USD-520-million financing package for Afghanistan "to help the country through a difficult phase in its struggle to end poverty and to signal a long-term commitment to the country's people.
The amount includes grants from the International Development Association (IDA), the World Bank's fund for the poorest countries, as well as contributions from the Afghanistan Reconstruction Trust Fund (ARTF), which is managed by the World Bank. Denmark, Germany and Japan also made contributions, a statement said. The package "aims to support efforts of the Government of Afghanistan to stimulate growth and ensure service delivery during a time of uncertainty when risks to the economy are significant," the World Bank affirmed. "The international troop withdrawal, begun in 2011, coupled with political uncertainties, have resulted in a slowdown of economic growth, while government budget pressures are increasing as security threats mount and drive people from their homes. " Grants will go to to support communities with internally displaced persons and returnees from Pakistan; support reforms that expand access to economic opportunities for the vulnerable and promote private sector development; strengthen urban policy-making in national agencies, and strengthen management and service delivery in five provincial capital cities; provide access to electricity to households, institutions and businesses in selected areas of Herat Province; finance establishing strategic wheat reserves and improve the efficiency of grain storage management; and benefit rural communities through access to all-season roads, the statement showed. |
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