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Tuesday, April 23, 2024

World Bank, Afghanistan sign grant agreements

(Kabul) – World Bank and Afghanistan signed a new package of grant agreements in support of reforms valued at $350 million.

The reforms are designed to improve efficiency and effectiveness in government operations for better revenue mobilization and service delivery. The new financing package supports reforms in the business environment, the energy sector, and land administration to promote economic growth and employment and reduce poverty for all Afghans.

Today’s signing package includes:$300 million for the Incentive Program Development Policy Grant (IP-DPG), including $90 million from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries, and $210 million from the Afghanistan Reconstruction Trust Fund (ARTF), administered by the World Bank on behalf of 34 donors. The IP-DPG aims to help the Government of Afghanistan continue maintaining a stable macroeconomic environment and pursue an ambitious program of policy reforms to support economic growth, private sector investment, poverty reduction, and improved public financial management.

$50 million for the Public-Private Partnerships and Public Investment Advisory Project, which aims to develop a pipeline of feasible private and publicly funded projects to further develop Afghanistan’s infrastructure.

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