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Afghanistan, WB sign $691mn worth of grant agreements

in Afghan Business

Afghanistan, WB sign $691mn worth of grant agreements

The World Bank has committed to providing $ 691mn to help revive Afghanistan’s economy and improve access to quality healthcare.

An agreement to that effect was signed between Afghan Finance Minister Eklil Hakimi and World Bank Country Director Shubham Chaudhuri on Tuesday in presence of Afghan Public Health Minister Dr. Ferozuddin Feroz, Minister of Communications and Information Technology Shahzad Aryobee and acting vice president of World Bank for South Asia Ethel Sennhauser.

The financing package includes grants of $231 million provided by the International Development Association (IDA), the World Bank’s fund for the poorest countries, as well as $425 million from the Afghanistan Reconstruction Trust Fund (ARTF), and $35 million from the Global Financing Facility (GFF).

  • $600 million to the Afghanistan Sehatmandi (Health) Project to increase the utilization and quality of health, nutrition, and family planning services across Afghanistan. IDA will provide $140 million, while ARTF is expected to provide an additional $425 million, supplemented by a $35 million grant from GFF. The project will be implemented by the Ministry of Public Health;
  • $51 million from IDA to the Afghanistan Digital CASA 1 Project to increase access to affordable internet, attract private investors to the sector, and improve the Government’s capacity to deliver digital government services, by supporting a regionally integrated digital infrastructure and creating enabling environment. The Ministry of Communications and Information Technology will be the implementing agency; and
  • $40 million from IDA to the Modernizing Afghan State Owned Banks Project that aims to strengthen corporate governance and enhance operational efficiency of state owned banks. The project, to be implemented by the Ministry of Finance, will contribute to the modernization, transparency, and efficiency of the three Afghan state-owned banks: New Kabul Bank, Bank Millie Afghan and Pashtany Bank, and will modernize their IT infrastructure and develop sustainable business models to support inclusive growth.

 “Afghanistan is implementing an ambitious reform program in a context of strong budget pressures imposed by low domestic revenue, though improving, massive security spending and enormous development need,” said Chaudhuri.

In this challenging environment, he added, “we remain committed to helping the Government of Afghanistan further improve service delivery to the Afghan people. For example, the new health project will improve health and nutrition services for the entire population of the country in all 34 provinces.”



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