World Bank provides Afghanistan $235 mn for development

The World Bank has provided a grant of $235 million to the Afghan government to support its efforts for development and stimulating growth in the country, the country's Finance Ministry said on Thursday.

On Wednesday, Acting Minister of Finance Humayon Qayoumi and World Bank Country Director for Afghanistan Shubham Chaudhuri signed the new financial package, the Ministry said in a statement cited by Xinhua news agency.

"It will be implemented in line with the requirements and priorities of the government and the people of Afghanistan to support economic empowerment, service delivery and institutional reforms," the statement said.

Out of the grant, some $75 million will finance Tackling Afghanistan's Government Human Resource Management and Institutional Reforms (TAGHIR) project, which will strengthen the capacity of selected line ministries.

"Access to job opportunities and better services is the most crucial need of Afghan people specially the returnees and internally displaced Afghans at this particular time," said the World Bank Country Director for Afghanistan.

"These new grants are a significant step forward in the path to help the government of Afghanistan strengthen its service delivery capacities and meet its key policy objectives through boosting institutional reforms," he added.

The latest grant came as poverty and rising unemployment have spread across Afghanistan. Prolonged conflicts and fighting in the country as well as drought have added to the miseries of the war-weary Afghans.

--IANS

soni/ab