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Mon, Nov

UK Announces £25 million for Investment Climate Program

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H.E. Eklil Hakimi the Minister of Finance and H.E Desmond Swayne the UK Economic Development Minister announce £25 million for Afghanistan Investment Climate Program on 19 June 2016 in the Presidential Palace.

Minister of Finance thanked the UK generous assistance and said; UK has granted US$ 4 billion for Afghanistan reconstruction till now and 1.6 billion has spent on 13 different projects.

He also briefed about the preparation and the expectation of Afghan government from the Brussels and Warsaw conferences.

AICP will help improve regulations and government capacity to enforce them; institute a Public Private Dialogue to drive reform; improve investor protection; develop risk-sharing instruments such as Public Private Partnerships (PPP), and provide loans to women entrepreneurs and improve the legal status of women in business.

These interventions will improve the business environment for domestic and foreign investment and increase private sector confidence. This in turn should lead to rising private sector investment boosting income, employment and revenues.

The Afghanistan Investment Climate Program will support reform of the legal and regulatory environment for business, enforcement of investor rights, development of public private partnerships and women’s economic empowerment to mobilize domestic and international investment in Afghanistan.

The Afghanistan Investment Climate Program builds on the UK’s £27.2 million investment in the now completed Afghanistan Investment Climate Facility which created over 19,000 jobs (between 2008- March 2016).

This is considering making Afghanistan Investment Climate Program a multi-donor funded initiative to increase coordination, scale and impact in the critical area of investment climate reform.

The program will run for seven years 2016-2023.

AICP will facilitate up to £600 million of new private sector investment and create 20,000 formal jobs.