Afghanistan signs $255.5m projects with WB

KABUL: (MEP) – The Afghan Minister of Finance, Dr. Hazrat Omar Zakhilwal, on Saturday signed four contracts worth of $255.5 with the World Bank (WB) for implementation of development projects in the country, officials said.

A delegation from finance ministry and Da Afghanistan Bank, led by finance minister, in their recent trip to the United States to participant the annual spring meeting of the International Monetary Fund (IMF) signed contracts of four important projects with World Bank, Ministry of Finance said in a press release. The contracts were signed by Afghan finance minister, Hazrat Omar Zakhilwal and WB Vice President for South Asia,Phillipe Le Houerou late Friday.

The first contract worth of $40 million was signed for CASA-1000-Community Support project that transmit power from Central Asia to south Asian countries. The project is intended to gain people’s support for the CASA-1000 project.

A second project worth of $15 million (Non-Formal Approach to Training Education and Jobs in Afghanistan (NATEJA) to provide vocational trainings for youths was also signed during the meeting aimed to increase potential for employment and higher earnings for young women and men in rural and semi-urban areas.

The third project worth of $110 million is planned for Kabul Municipal Development Program (KMDP). The forth one worth $90.5 for Kabul Urban Transport Efficiency Improvement (KUTEI) was also among the signed contracts. The said two projects were aimed to increase access to municipal services and road construction.

Municipality’s financial management system; enabling an early emergency response in the event of an Eligible Crisis or Emergency and to improve road condition and traffic flow on selected corridors of Kabul were also included in the services.