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Commercial banks to finance public welfare projects under new mechanism
The Economic Deputy of the Prime Minister’s Office announced on Wednesday that a new financing mechanism has been signed between the Ministry of Finance and the central bank, Da Afghanistan Bank (DAB), paving the way for commercial banks to play a direct role in funding public welfare projects.
According to the statement, the document was developed under Article 2, Clause 5 of the Rules of Procedure of the Economic Commission. Its purpose is to provide a legal framework for mobilizing commercial banks in support of public-interest projects, while simultaneously creating opportunities for domestic investment and boosting banks’ revenues.
Under the new mechanism, the Ministry of Finance will identify and prioritize public welfare projects through consultations with relevant sectoral institutions, after which it will prepare the required financial models.
Da Afghanistan Bank, in turn, will encourage and guide commercial banks to participate in financing and implementing these initiatives.
Officials say the move is designed to ensure that critical development projects — particularly in infrastructure, healthcare, and education — can be supported through private sector involvement, easing pressure on limited state resources.
The approach also aims to provide commercial banks with sustainable investment opportunities at home, reducing dependency on foreign funding streams.
Afghanistan’s financial sector has struggled since the collapse of the former republic in 2021, when international sanctions and the freezing of central bank reserves triggered a banking crisis.
Although some stability has returned in recent years, liquidity challenges and restricted access to global markets remain key obstacles. By integrating commercial banks into public financing, the government hopes to stimulate economic activity and strengthen confidence in the country’s financial system.
The statement emphasized that the new mechanism will not only benefit public services but also build a foundation for a more resilient banking sector, capable of contributing to Afghanistan’s long-term development goals.
Zalmay Khalilzad, the former US special representative for Afghanistan, has questioned Pakistan’s commitment to the welfare of the Afghan people, citing Islamabad’s policies over the past three decades.
Khalilzad said in a post on X that Pakistani Prime Minister Shehbaz Sharif advocated for the rights of Afghan women during his speech at the UN General Assembly on Friday.
Sharif said: “Fundamental rights of the Afghan people — especially women and girls — must be respected.”
Responding to the remarks, Khalilzad said Pakistan’s policies over the past 30 years raise questions about Sharif’s commitment to Afghan welfare.
He cited Pakistan’s support for militant groups against US forces and what he described as the poor treatment of Afghan refugees as examples.
Khalilzad also said Afghanistan and Pakistan need and should have much better relations, adding that “a reset is necessary.”
India’s Foreign Secretary Vikram Misri met with the UN Secretary-General’s Special Representative for Afghanistan, Rabab Fatima, on the sidelines of the United Nations General Assembly.
Indian Foreign Ministry spokesperson Randhir Jaiswal said in a post on X that Misri underscored the need to keep addressing the humanitarian needs of the Afghan people as a priority.
Misri also appreciated the role of the UN Assistance Mission in Afghanistan (UNAMA) and reaffirmed India’s continued cooperation with the United Nations on Afghanistan.
The meeting comes as Afghanistan continues to face humanitarian and economic challenges, with international agencies warning of significant needs among the Afghan population.
Kazakhstan’s Foreign Minister Mukhtar Tileuberdi has called for pragmatic and coordinated international engagement with Afghanistan, saying the country’s long-term stability is closely linked to the security and sustainable development of Central Asia.
Speaking during the general debate of the 81st session of the United Nations General Assembly in New York on Friday, Tileuberdi said humanitarian assistance to Afghanistan remains essential but alone cannot break the cycle of poverty, displacement and dependency.
He said Kazakhstan supports a “pragmatic, coordinated and step-by-step” approach to international engagement with Afghanistan, with the United Nations playing a central role.
Tileuberdi also said Kazakhstan is working with the UN to operationalize the United Nations Regional Centre for the Sustainable Development Goals for Central Asia and Afghanistan in Almaty.
He said the success of the centre should be measured by the results and assistance it delivers to the region.
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