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    Pajhwok Afghan News Sms Alert

    Governance

    Tokyo Conference likely to pledge $15b in aid

    KABUL (PAN): The international community is likely to pledge a staggering id="mce_marker"5 billion for Afghanistan’s development at a special donor conference in Tokyo later this week.

    Quoting a diplomat familiar with the meeting agenda, Japan's Kyodo News reported participants would commit billion dollars fund to sustain Afghanistan’s development through 2015.

    “A fundraising campaign is on track and the amount of aid is expected to be greater than initially hoped,” reported Kyodo, which did not name the diplomat.   

    World’s top leaders, including United Nations chief Ban Ki-moon, US Secretary of State Hillary Clinton and officials from about 70 countries and global agencies, are meeting in Tokyo on July 8 to raise funds for Afghanistan.

    Afghanistan is expected to face a massive financial crunch after NATO forces leave the country in 2014, which experts fear could spark off serious socio-economic woes in a country faced with militant threats.

    President Hamid Karzai had earlier said the country would need about $4 billion to $5 billion yearly to rebuild its economy from 2015 onwards.

    vp/mud