Economic

Finance Minister Inks Agreement Worth $ 255.5m With WB

Sunday, April 12, 2014
Kabul (BNA) Finance Minister Dr. Omar Zakhilwal who is heading a high-ranking delegation of finance ministry and the Afghanistan Bank to attend the annual meeting of the International Monetary Fund (IMF) and the World Bank (WB) in Washington from April 11 to April 13.
Dr. Zakhilwal during the visit has inked agreement on four projects worth 255.5 million US dollars with Mr. Flip Li Horio the deputy of WB in south Asia.
The projects include 40 million US dollars support of (CSP) for backing power transmission from central Asia to South Asia CASA-1000 which facilitates access to electricity, social services and economic infrastructures.
Furthermore, $15millon for holding vocational trainings and creation of job opportunities in Afghanistan (NATEJA) in a bid to improve the capacity building of the employees and improving living conditions of men, women and youth in the rural and semi-rural areas. Another 110 million US dollars for the development programs of Kabul Municipality (KMDP) and 90.5 million US dollars for the improvement of the Kabul city transport (KUTEI).
Having access to the basic services of Kabul Municipality is one of the objectives of the Kabul Municipality development program and Kabul city transport.
Re-designing management of financial system of Kabul municipality, rapid response during crisis, improving road conditions and the flow of traffic in Kabul streets are included in the development programs.
At the sideline of the meeting the finance minister met with the heads and officials of the partner organizations including the WB, IMF, US special envoy on Afghanistan and Pakistan and the finance minister of Pakistan and exchanged views on bilateral cooperation between the two countries.

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