MANILLA (ADB press Service) – The Asian Development Bank (ADB) has approved the administration of a European Union (EU) grant for the Transport Network Development Investment Program. The EU grant will help upgrade the Afghanistan Railway Authority and support efficiency improvements for traffic moving along CAREC Corridors 5 and 6 in Afghanistan, and across key cross border points as part of the fourth tranche of financing for the program.

The program, which was approved in 2011, is supporting infrastructure upgrades and improved sector governance to strengthen access to domestic and international markets, which in turn will support increased trade, job creation and economic growth.

Amount: $109 mln grant from ADB’s concessional Asian Development Fund. Cofinancing grant of up to $21 mln equivalent from the EU, administered by ADB.