FRANKFURT (SW): The Asian Development Bank (ADB) committed an exceptional grant allocation of $ 858 million for project financing and $ 20 million more for disaster reduction activities in Afghanistan for the period of 2017 to 2020.
The grant allocation for the four-year period was discussed at the third and concluding meeting of the 11th replenishment of the Asian Development Fund (ADF), the ADB grant window, on 1 May 2016.
Eklil Hakimi, the Minister of Finance participated in the 49 Asian Development Bank annual meeting in Germany on 2nd May 2016. On the sidelines of the ADB meeting, he discussed the implementation and funding of Afghanistan’s development projects with ADB officials.
While thanking the ADB donors and management in his address, Hakimi said that the grant will enable Afghanistan to implement key large infrastructure projects in energy, transport, and water infrastructure sector and bring the country closer to become a self-reliant country.
ADB Country Director for Afghanistan, Thomas Panella stated on the occasion that all in all, the ADF contributions remain strong and ADB should be able to retain its commitment to Afghanistan as its leading infrastructure development partner.
Eklil Hakimi also co-chaired a meeting with the ADB Vice-President, Wencai Zhang to discuss the key Brussels Conference on Afghanistan, Development projects, Afghanistan’s priorities and ADB role in Afghanistan’s progress and prosperity.
ENDS
