US to donate USD 300mn in aid to Afghanistan over the next five years
According to Bloomberg, USD 92mn of the aid would be earmarked for education programs providing technical training in carpentry, nutrition, agricultural sciences and electrical wiring.
A sum of USD 77mn would go towards improving the business environment and boosting foreign investment.
US Agency for International Development (USAID) intends to grand USD 125mn to modernize Afghanistan’s agriculture by getting Afghan farmers better access to technology and research to improve crop yields and access to markets.
This comes as the US Congress has cut development aid to Afghanistan by 50% for fiscal 2014. In a massive spending bill signed into law in January by President Barack Obama, US Congress allocated USD 1.12 billion for overall civilian assistance to Afghanistan, a 50% reduction from the previous fiscal year.
The US government has been eyeing other options to increase the amount of funding for Afghanistan.
Larry Sampler, head of USAID in Afghanistan, said the aid programs were aimed at fostering sustainable, economically vibrant Afghanistan going forward.
“Going into transition in Afghanistan there has to be economic growth, economic activity, both to offset losses when the military leaves, but also for sustainability,” Bloomberg quotes Sampler.
President Hamid Karzai’s relations with US Congress will determine the final delivery of the proposed aid programs. Karzai’s refusal to sign the Bilateral Security Act (BSA) has frustrated Washington.
The Afghani currency has been in free fall in the past four months, losing its value by 13% against the
In a recent report by the World Bank (WB), Afghanistan’s economic growth in 2013 is projected at 3.1%, down from
In order for Afghanistan to reap benefit of its vast natural resources well-trained mining professionals and developing international networks are