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Afghanistan Receives $189 mln in Incentive from WB

Tuesday 13 June 2017

KABUL (Pajhwok news agency) — After meeting certain benchmarks, the Afghan Ministry of Finance (MoF), has received $189 mln in incentive from the World Bank, an official said on Tuesday. Meanwhile, Afghanistan government’s revenue has reached 70 bln afghanis during the first six months of the current fiscal year.

Ajmal Hameed Abdulrahimzai

Ajmal Hameed Abdulrahimzai, MoF spokesman, shared recent achievements of the ministry with at a press conference here on Tuesday. He said the World Bank on Monday provided $189 mln to the MoF in incentive fund after bringing reforms to five key sections: income resources, organizational structures, tax management, aid effectiveness and provincial budgeting. He also stated that the fund would be spent on development projects through the national budget, keeping in view priorities.

Abdulrahimzai said as a result of fulfilling IMF conditions the ministry was able to be included in the fund’s three-year program and receive IMF’s $6.2 mln credit. He said the money was available at Afghanistan’s treasuries and the Afghan government could avail from it in case of need.

For Abdulrahimzai, obtaining the fund would increase Afghanistan’s credibility worldwide: “The mentioned funds include $900 mln that the World Bank has donated to MoF for three years (2016-2018) in return for reforms and of the amount, about $550 mln has been so far received.”

He also said MoF in the first six months of the current financial year had collected revenues amounting to 70 bln afghanis.

The IMF has set Afghanistan the target of $153 bln afghanis revenues collection for this year. Afghanistan’s total revenue in year 1395 (Iranian calendar) was 145 bln afghanis.

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