English | دری

ADB suspends its funds for the construction of Tajik-Afghan-Turkmen railway

in Afghan Business

ADB suspends its funds for the construction of Tajik-Afghan-Turkmen railway

The Asian Development Bank (ADB) has suspended its funds for the construction of the Turkmenistan-Afghanistan-Tajikistan railway due to security situation.

The funds that were supposed to be allocated for the construction of the railway to development of other areas, ADB Country Director C.C. Yu said on Monday.

The decision was made due to the poor security situation in Afghanistan and lack of financial resources for construction of the Afghan section of the railway.

“The Tajik section is not expensive and it is only 50-60 km. ADB will finance the project after approval of the route,” stressed the Bank’s County Director.

The ADB previously provided USD 9 million grant for preparation of technical and economic assessment of the future railway.

Turkmenistan completed construction of its section up to the border with Afghanistan last year.

Memorandum on construction of Tajikistan-Afghanistan-Turkmenistan railway was signed in March 2013. The railway was supposed to be commissioned in 2018.



Related Articles

Islamic banking starts in Afghanistan with a new regulatory framework

Afghanistan’s central bank, Da Afghanistan Bank (DAB), announced on Wednesday that all banks should provide Islamic banking services in compliance

Economic transition more effective than security transition- Commerce Minister Shinwari

Speaking at the session entitled “Access to Global Markets”, Commerce and Industries Deputy Minister Muzamil Shinwari emphasized on the importance

Afghanistan's first ever footwear retailer opens in Kabul city

The first ever Afghan-made footwear retail store was inaugurated on Monday in the capital city of Kabul. The USD 40,000

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.