KABUL - The Asian Development Bank (ADB) has committed a grant allocation of $858 million for project financing and $20 million for disaster reduction activities in Afghanistan for 2017 to 2020, the Ministry of Finance said on Tuesday.
The grant allocation for the four-year period was discussed at the third and concluding meeting of the11th replenishment of the Asian Development Fund (ADF-ADB grant window, on May 1, 2016.
Minister of Finance Eklil Hakimi participated in the ADB annual meeting in Germany on May 2. On the sidelines of the meeting, he discussed the implementation and funding of development projects with ADB officials.
A statement from the ministry quoted Hakimi as saying: “This grant will enable us to implement large infrastructure projects in energy, transport, and water infrastructure sectors and bring us closer to our aspiration of becoming a self-reliant country”.
ADB Country Director Thomas Panella stated: “All in all, the ADF contributions remain strong and ADB should be able to retain its commitment to Afghanistan as its lead infrastructure development partner.”
Hakimi and ADB Vice-President Wencai Zhang discussed the Brussels Conference on Afghanistan, development projects, Afghanistan’s priorities.
ADB’s annual meeting, running from May 2 to 5, will draw over 3,000 finance ministers, central bank governors and other government officials, business leaders, investors, journalists, and representatives from civil society. (Pajhwok)