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Britain provides private sector $9m grant

Britain provides private sector $9m grant

Dec 03, 2011 - 16:32

KABULinfo-icon (PANinfo-icon): The British government would provide $9 million (433.9 million afghanis) in grant support to the private sector of Afghanistaninfo-icon, an official said on Saturday.

The project would be jointly executed by the Afghanistan Investment Support Agency (AISA) and the British Department International Development (DFID), AISA deputy head, Mohammad Nasim Akbar, told a news conference.

Investors had been facing problems due to inadequate access to financial resources, and by receiving the grant, their problem would be resolved, Akbar hoped.

The funds would be spent on promoting gardening, livestock, carpet-weaving, furniture, pharmacy and mine sectors, with the help of investors, the DFID spokesman, Humayun Shahim, told Pajhwok Afghan News.

Investors registered with ASIA and DFID should have a proper plan for investment, ability and employing a considerable number of workers, he said. The investors present their plans twice annually. The investors would be helped after their plans were evaluated, he said.

Kandahar Chamber of Commerce and Industries head, Faizul Haq Mushkani, said he was happy to hear about the grant and would convince investors in the province to evolve plans in this regard.


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