Home > Afghanistan > ADB Promises $858 mln New Grant Aid to Afghanistan

ADB Promises $858 mln New Grant Aid to Afghanistan

Thursday 5 November 2015

KABUL (Pajhwok Afghan News) — The Afghan Ministry of Finance (MoF) has secured Asian Development Bank (ADB)’s new grant assistance commitment for Afghanistan’s infrastructure building, the ministry said in a statement.

The development came during a visit to the bank in the United States by Deputy Finance Minister Dr. Mustafa Mastoor, the statement said.

Mastoor met ADB President Takesiko Nako and senior ADB leadership including Vice President and Executive Director Ambassador Robert Orr at the bank. During the high-level meeting, the ADB and contributing donor countries made a new commitment of $858 mln grants for Afghanistan’s infrastructure development for the upcoming years 2017 to 2020, the finance ministry said. It said the main themes of discussion between the ADB President and Mastoor revolved around infrastructure development, regional connectivity through ADB’s investments in railways, road and energy networks.

The ministry said these important financial contributions to Afghanistan would promote economic growth, energy transmission, private sector investment and build and run infrastructure to promote security and drive development.

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