Asian, World banks grant $500 million to Afghanistan

Staff Report

KABUL -- The Asian Development Bank (ADB) and World Bank recently pledged major aid to Afghanistan, Khaama Press reported Tuesday and Wednesday (December 20 and 21).

The ADB is committing a grant of 27.7 billion AFN (US $415 million) to support the energy sector, while the World Bank is contributing 5.5 billion AFN (US $83.5 million) in incentive funds to support reforms in key sectors.

The sectors supported by the World Bank contribution include "income resources, organisational reforms, tax management, aid effectiveness and provincial budgets, according to a Finance Ministry statement.

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