The Asian Development Bank (ADB) on Wednesday approved a $110 million grant to boost power supply and strengthen Afghanistan’s energy sector by improving its sustainability and promoting cross-border trade in energy.
“The project will help address Afghanistan’s chronic power shortage by immediately doubling the volume of power imports and ensuring long-term cost-competitive electricity supply,” read a statement issued by ADB.
Once complete, the project will provide improved access to customers and facilitate 500,000 new connections to households, commercial entities, and industrial customers.
“Demand for electricity is growing rapidly in Afghanistan and is essential for the country’s economic growth,” said ADB Energy Specialist Nana Gurgenidze.
“The project will help provide reliable and affordable electricity to households and businesses by strengthening the grid and increasing power import capacity by 900 megawatts, with year-round firm energy imports of 3,000 gigawatt-hours.”
Afghanistan relies on energy imports from neighboring countries to meet its domestic demand and despite significant progress since 2002, only about 34 percent of the population has access to grid-connected electricity.
According to the ADB, the project will finance the construction of 201km of a 500-kilovolt overhead transmission line from the Surkhan substation in Uzbekistan to the Khwaja-Alwan substation in Afghanistan – a key interconnection node to receive power from Tajikistan, Turkmenistan, and Uzbekistan.
It will also fund the expansion of a line bay, including associated equipment, at the Khwaja-Alwan substation and the project will allow Uzbek power into the Afghan grid under a 10-year power purchase and sales agreement signed in August 2020 by the Afghanistan and Uzbekistan governments.
In addition, staff, including female engineers at the national power utility Da Afghanistan Breshna Sherkat (DABS), will be trained to manage cross-border power transfer and parallel operations, including emergency operation systems with CAPS, read the statement.
Musk says Twitter deal could move ahead with ‘bot’ info
Elon Musk said Saturday his planned $44 billion takeover of Twitter should move forward if the company can confirm some details about how it measures whether user accounts are ‘spam bots’ or real people, AP reported Saturday.
The billionaire and Tesla CEO has been trying to back out of his April agreement to buy the social media company, leading Twitter to sue him last month to complete the acquisition. Musk countersued, accusing Twitter of misleading his team about the true size of its user base and other problems he said amounted to fraud and breach of contract.
Both sides are headed toward an October trial in a Delaware court.
“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Musk tweeted early Saturday. “However, if it turns out that their SEC filings are materially false, then it should not.”
Twitter declined comment Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission an estimate that fewer than 5% of user accounts are fake or spam, with a disclaimer that it could be higher. Musk waived his right to further due diligence when he signed the April merger agreement.
Twitter has argued in court that Musk is deliberately trying to tank the deal because market conditions have deteriorated and the acquisition no longer serves his interests. In a court filing Thursday, it describes his counterclaims as an imagined story “contradicted by the evidence and common sense.”
“Musk invents representations Twitter never made and then tries to wield, selectively, the extensive confidential data Twitter provided him to conjure a breach of those purported representations,” company attorneys wrote.
Fresh fruits exports from Afghanistan increase this year: ACCI
Afghanistan Chamber of Commerce & Investment (ACCI) said Friday that fresh fruits exports have increased from the country abroad.
According to ACCI, the export of fresh fruits have increased significantly compared to previous years, and most of these fruits are exported to Pakistan, India and some other neighboring countries of Afghanistan.
ACCI members have added that if the export process continues in the same way, gardeners and traders can export fresh seasonal fruits regularly.
According to the members of this chamber, Pakistan has recently provided more facilities for Afghanistan’s exports.
However, producers and exporters of fresh fruit in the country said that compared to last year, melon products have decreased by 50 percent, adding that there is little consideration for the expenses and efforts of farmers for the price at which their products are sold, and there is a need for better marketing for their products.
Meanwhile, traders said that due to recent droughts and natural disasters, the harvest of fresh fruit has decreased.
On the other hand, the decrease in the price of Pakistani currency has caused traders to face many problems in trading goods with this country.
Economic experts said that the government should find different markets for the country’s fresh fruit exports.
According to them, in order to prevent the spoilage of farmers’ and gardeners’ products, cold storages should be set up in the country.
HRW urges governments, IEA to reach agreement on banking issues
Afghanistan’s humanitarian crisis cannot be effectively addressed unless the United States and other governments ease restrictions on the country’s banking sector to facilitate legitimate economic activity and humanitarian aid,” Human Rights Watch said in a statement on Thursday.
It said that the US air strike killing the al-Qaeda leader Ayman al-Zawahri should not derail ongoing discussions between the US and Afghanistan to urgently reach an agreement allowing ordinary Afghans to engage in legitimate commercial activity.
“Afghanistan’s intensifying hunger and health crisis is urgent and at its root a banking crisis,” said John Sifton, Asia advocacy director at Human Rights Watch. “Regardless of the Taliban’s (IEA) status or credibility with outside governments, international economic restrictions are still driving the country’s catastrophe and hurting the Afghan people.”
Despite actions by the US and others to license banking transactions with Afghan entities, Afghanistan’s central bank remains unable to access its foreign currency reserves or process or receive most international transactions. As a result, the country continues to suffer from a major liquidity crisis and lack of banknotes, HRW noted.
Businesses, humanitarian groups, and private banks continue to report extensive restrictions on their operational capacities. At the same time, because outside donors have severely cut funding to support Afghanistan health, education, and other essential sectors, millions of Afghans have lost their incomes, according to HRW.
Overall, more than 90 percent of Afghans have been suffering from some form of food insecurity since last August, skipping meals or whole days of eating and engaging in extreme coping mechanisms to pay for food, including sending children to work, HRW said.
“Importers are struggling to pay for goods, humanitarian groups are facing problems with basic operations, and the Afghan diaspora can’t send enough money to their relatives and friends,” Sifton said. “Millions of hungry Afghans are experiencing the abysmal reality of seeing food at the market but being unable to purchase it.”
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