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USD 7mn pact signed for food security in Afghanistan

in Afghan Business

USD 7mn pact signed for food security in Afghanistan

Kuwait and Afghanistan signed a grant of USD 7mn for improving food security in Afghanistan.

The agreement was signed on the sidelines of the International Monetary Fund-World Bank Annual Meeting held in Lima, Peru from October 09 to October 11.

A high level Afghan delegation led by Afghan Finance Minister Eklil Hakimi is participating in the meeting.

Minister Hakimi signed an agreement on USD 7mn grant with Hesham Al-Wazayan, Deputy Director-General of the Kuwaid Fund for Arab Economic Development.

The Afghan delegation discussed government’s its preparations for the upcoming High Level Conferences on Afghanistan planned to be held in Warsaw and Brussels.

The annual meeting was focused on addressing the global economic crisis risks which have been on the rise since 2008.

The G20 finance ministers called for tax avoidance by multinationals and closing loopholes that allow corporate profits to disappear.

Angel Gurría, the Secretary-General of the OECD, which is working on the tax project with the G20, has said tax avoidance is sapping economies of the resources needed to jump-start growth.

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