Editor in Chief: Moh. Reza Huwaida Thursday, May 23rd, 2019

$325 Million Grant Agreement Signed with World Bank

$325 Million Grant Agreement  Signed with World Bank

KABUL - The Ministry of Finance and the World Bank on Wednesday signed a grant agreement worth $325 million to support economic empowerment, service delivery and institutional reforms in Afghanistan
The agreement was signed between acting Finance Minister Dr. Humayon Qayoumi and World Bank country director for Afghanistan Shubham Chaudhuri, the Finance Ministry and the bank said a joint statement.
Speaking on the occasion, Qayoumi, also chief advisor on infrastructure and technology to the President, said the package would be used in line with the requirements and priorities of the government and the people of Afghanistan.
“The financing agreement of the three projects signed today with the World Bank totally worth $325 million. It will be implemented to support economic empowerment, service delivery and institutional reforms,” the acting Finance Minister said.
“The new financial package includes $200 million grant to the Eshteghal Zaiee - Karmondena (EZ-Kar) Project, $50 million grant to the Cities Investment Program (CIP) and $75 million grant to finance the Tackling Afghanistan’s Government HRM (Human Resource Management) and Institutional Reforms (TAGHIR),” he added, acknowledging what he said valuable contribution by the World Bank to fund these major projects.
The new financial package includes:
•        $200 million grant to the EshteghalZaiee - Karmondena (EZ-Kar) Project, which aims to strengthen the enabling environment for economic opportunities in Afghan cities where there is a high influx of displaced people. The grant includes $150 million from the International Development Association (IDA), the World Bank Group’s fund for poorest countries; and $50 million from the Afghanistan Reconstruction Trust Fund (ARTF), administered by the World Bank on behalf of 34 donors.
•        To improve the sustainability and livability of nine provincial capital cities by strengthening municipal capacity, management, and infrastructure. The grant comprises $25 million from IDA and $25 million from the ARTF.
•        $75 million grant to finance the Tackling Afghanistan’s Government HRM (Human Resource Management) and Institutional Reforms (TAGHIR) project,which will strengthen the capacity of selected line ministries. The grant includes $25 million from IDA and $50 million from ARTF.
Shubham Chaudhuri said access to job opportunities and better services remained the most crucial need of Afghan people specially the returnees and internally displaced Afghans at this particular time.
“These new grants are significant step forward in the path to help the Government of Afghanistan strengthen its service delivery capacities and meet its key policy objectives through boosting institutional reforms, ” he said. (Pajhwok)