Kabul, Feb 7 (GCBusiness) The World Bank provided a grant of 235 million US dollars to Afghan government to support its efforts for development and stimulating growth in the country, Afghan Ministry of Finance reported on its website 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.
“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 acting finance minister was quoted as saying.
Out of the grant some 75 million U.S. dollars will finance “the Tackling Afghanistan’s Government HRM (Human Resource Management) and Institutional Reforms (TAGHIR) project, which will strengthen the capacity of selected line ministries. The grant also includes 25 million U.S. dollars from IDA (International Development Association) and 50 million U.S. dollars from ARTF (Afghanistan Reconstruction Trust Fund).”
“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. 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,” said Chaudhuri in the statement.
The latest grant came as poverty and rising unemployment have spread across Afghanistan as the prolonged conflicts and fighting in the country as well as drought added to the miseries of the war-weary Afghans.