Afghanistan owes $2.5bn in loans from foreign countries

by Wadsam | February 23, 2016 9:33 pm

According to Afghan Ministry of Finance officials, Afghanistan owes USD 2.5bn in loans from foreign countries and financial firms during the past 14 years.

The loans were taken from Iran, the Czech Republic, the World Bank,  the Asian Development Bank and the Russian Federation and are not due in 40 years.

Head of the treasury department Mohammad Aqa Kohistani said Afghanistan obtained USD 970mn in loans from the Russian Federation.

He added that negotiations were underway with the Russian government and other loan providers to forgive the loans.

The loans were needed to complete some of the infrastructure projects in the country.

Source URL: http://wadsam.com/afghan-business-news/afghanistan-owes-2-5bn-in-loans-from-foreign-countries-232/