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EU pledges USD 1.1bn aid package to Afghanistan ahead of Brussels Summit

in Afghan Business

EU pledges USD 1.1bn aid package to Afghanistan ahead of Brussels Summit

The European Commission has pledged a total of USD 1.1bn a year to Afghanistan until 2020.

The announcement was made ahead of the Brussels Summit which kicked off on Tuesday.

In a statement, the Commission said the funds could be used by the Kabul government “to finance their own strategic development priorities.”

The Commission has further added that it would commit an extra USD 224mn a year to strengthen state structures in Afghanistan.

The EU leaders are seeking a total of 2.68bn Euros a year for the next four years for Afghanistan at the Brussels Conference.

This comes as the US  government earlier said it expected the upcoming international conference would bring pledges of over USD 3bn to Afghanistan for development support.

“We expect strong pledges of renewed support to be announced next week, collectively totaling over $3 billion a year in development support through 2020,” the US Special Envoy for Afghanistan and Pakistan Richard Olson said.

With the overall aim of generating international support for the Afghan reform process and ensuring continued international political and financial support to bolster Afghanistan’s economic stability, development and state-building processes over the next four years, the two-day Brussels Conference on Afghanistan is bringing together leaders from more than 70 countries worldwide, 20 international organizations and agencies, and a vast range of stakeholders. A self-reliant, prosperous and peaceful Afghanistan is a priority for the European Union, Afghanistan, its neighbours and the international community at large.

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