Editor in Chief: Moh. Reza Huwaida Friday, February 22nd, 2019

ADB Unveils Investment Strategy for Asian Countries

ADB Unveils Investment  Strategy for Asian Countries

KABUL - The Asian Development Bank (ADB) on Sunday unveiled a 12-year strategy aimed at developing and promoting investment opportunities in Asian nations including Afghanistan.
Based on STRATEGY 2030, over the next few years, billions of dollars will be invested in various sectors – of which stakeholders say will hopefully also benefit Afghanistan.
According to the ADB’s report, Asia and the pacific has made great strides in poverty reduction and economic growth in the last 50 years.
However, there are unfinished development agendas, the report stated.
Issues such as poverty and vulnerability, rising inequality, climate change, growing environmental pressures, and large infrastructure deficits remain to be addressed.
Emerging trends, such as technological advancements, urbanization, and changing demographics, present opportunities and challenges, ADB has noted.
Meanwhile, officials from the International Chamber of Commerce and Industries (ICCI) have said that taking into consideration the important role of the Asian Development Bank in the reconstruction of Afghanistan, the National Unity Government (NUG) should outline more inclusive programs to attract ADB’s financial cooperation in future.
Mapping out the strategy, the ADB report noted the following seven points as key factors.
Afghanistan’s Ministry of Finance (MoF) has said that the new strategy will benefit Afghanistan.
“The financial cooperation by the Asian Development Bank which is spent through the national budget has had a positive impact on various sectors such as agriculture, transport, energy and other sectors,”Ajmal Hamid Abdul Rahimzai, MoF spokesman said.
The ADB has provided over $4 billion to Afghanistan since 2002. (Tolo news)