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ADB vows $858m new grant aid to Afghanistan

ADB vows $858m new grant aid to Afghanistan

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On
Nov 01, 2015 - 18:33

KABULinfo-icon (Pajhwok): The Afghan Ministry of Finance (MoF) has secured Asian Development Bank (ADB)’s new grant assistance commitment for Afghanistaninfo-icon’s infrastructure building, the ministry said in a statement.

The development came during a visit to the bank in the United States by Deputy Finance Minister Dr. Mustafa Mastoor, the statement said.

Mastoor met ADB President Takesiko Nako and senior ADB leadership including Vice President and Executive Director Ambassador Robert Orr at the bank.

During the high-level meeting, the ADB and contributing donor countries made a new commitment of USD 858 millions grants for Afghanistan’s infrastructure development for the upcoming years 2017 to 2020, the finance ministry said.

It said the main themes of discussion between the ADB President and Mastoor revolved around infrastructure development, regional connectivity through ADB’s investments in railways, road and energy networks.

The ministry said these important financial contributions to Afghanistan would promote economic growth, energy transmission, private sector investment and build and run infrastructure to promote security and drive development.

During the meetings, the ADB leadership expressed the bank’s keen desire in remaining a reliable partner to Afghanistan and assured the bank’s continued support and engagement in the country for many years to come.

In return, Dr. Mastoor thanked ADB for its generous support to the people of Afghanistan.

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