Afghanistan, WB sign $691mn worth of grant agreements

by Wadsam | April 10, 2018 6:44 pm

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).

 “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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