Thu, Jun

Zakhilwal signs $255m projects with WB


world-bankFinance Minister Omar Zakhilwal on Friday signed with the World Bank (WB) four projects worth $255.5 million, which once implemented, would play a significant role in Afghanistan's development.

Zakhilwal, leading a high-powered delegation to the annual spring meeting of the International Monetary Fund (IMF) and the WB, signed an agreement on the projects with WB Vice South Asia President Phillipe Le Houérou.
Topping the list is the $40 million for CASA-1000 - Community Support which provides access to electricity and other social and economic infrastructure services to communities along the 1,000 transmission line.

Zakhilwal also signed project worth $15million Non-Formal Approach to Training Education and Jobs in Afghanistan (NATEJA) to increase the potential for employment and higher earnings of targeted young Afghan women and men in rural and semi-urban areas through non-formal skills training.

The other two projects for which agreements were signed with the WB are $110million Kabul Municipal Development Program (KMDP) and $90.5million for Kabul Urban Transport Efficiency Improvement (KUTEI), the finance minister said.

The latest agreements are part of the WB effort is to help Afghanistan manage the critical transition to government-led security and development by the end of 2014. The Bank will deliver about $150 million per year and the Afghanistan Reconstruction Trust Fund up to $800 million per year.

Source: Pajhwok