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IEA sets up investment consortium with firms from Russia, Iran

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The Islamic Emirate of Afghanistan’s (IEA) administration has set up a consortium of companies, including some in Russia, Iran and Pakistan, to create an investment plan focusing on power, mining and infrastructure, the commerce minister said on Wednesday.

The consortium included 14 Afghan businessmen and foreign companies who would send delegates to Kabul to look into projects worth up to $1 billion, commerce minister Nooruddin Azizi told Reuters.

Afghanistan’s economy has been severely hampered since the IEA took over in 2021, sparking the international community to cut most development funding and enforce sanctions on the banking sector.

A series of attacks waged by Daesh has also left some investors worried.

Azizi said the administration was focused on launching several long term business plans including the consortium and special economic zones, and that it was working on ensuring security.

“Lots of discussions on security have taken place in cabinet meetings also, commissions have been established and … the hiding places (of militants) have been destroyed,” he said.

“The Islamic Emirate will ensure security and will support the private sector in the security field,” he said.

As well as mining and power projects, he said the consortium was eyeing the possibility of building a second tunnel through the Salang pass that connects Afghanistan’s north to the rest of the country, and a project to divert water from northern Panjshir province to the capital as well as re-building the main highway connecting Kabul to western Herat province.

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‘Made in Afghanistan’ expo opens in Tashkent

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The Afghanistan Chamber of Commerce and Investment has announced that a major exhibition of Afghan products titled “Made in Afghanistan” is opening today (Wednesday) in Uzbekistan’s capital Tashkent.

According to the chamber, the expo—supported financially by the United Nations Development Programme—will run until Friday and aims to showcase Afghanistan’s production and export potential.

More than 60 booths have been set up by Afghan traders, featuring a wide range of products including carpets, dried and fresh fruits, saffron, pine nuts, cotton, precious and semi-precious stones, as well as beverages.

Officials from the chamber expressed hope that the expo will help expand trade relations between Afghanistan and countries in the region, particularly Uzbekistan.

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Afghani strengthens nearly 10% against US dollar amid banking sector reforms

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

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Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.

Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.

Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.

Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.

They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.

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Uzbekistan delivers over 290 tons of aid to Afghanistan

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

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Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.

Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.

Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.

The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.

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