Business
India to build Shahtoot dam in Kabul
India’s External Affairs Minister S. Jaishankar announced on Tuesday at the Geneva Conference 2020 that his country will build a new dam to provide Kabul residents with safe drinking water.
Addressing delegates virtually, Jaishankar said the Shahtoot dam will help supply Kabul residents with water.
“I am happy to announce today an agreement with Afghanistan for building the Shahtoot dam which will provide safe drinking water to two million Kabul residents.
He also said India will launch phase four of a high impact community development program in Afghanistan, which includes around 150 projects worth $80 million dollars.
He stated India has invested heavily in peace and development in Afghanistan but said his country calls for an immediate and comprehensive ceasefire.
“We also believe that the peace process must be Afghan-led, Afghan-owned and Afghan-controlled.”
A feasibility study for the dam was reportedly finalized in 2012 and the estimated cost will be around $236 million.
This dam would also allow for irrigation systems to cover 4,000 hectares of land in the Charasiab and Khairabad districts of Kabul province.
Once complete, officials said the dam will hold 146 million cubic meters of potable water for two million people in Kabul and irrigation water for over 4,000 hectares of land.
India has played a major role in the reconstruction of Afghanistan since the fall of the Taliban regime and has invested over $2 billion in various reconstruction and infrastructure projects.
In 2016, Ghani and Indian Prime Minister inaugurated the Indian-funded “Friendship Dam” in Heart Province, which can also irrigate over 80,000 hectares of land and provide electricity to thousands of homes in the western Afghan province of Herat.
Business
‘Made in Afghanistan’ expo opens in Tashkent
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.
Business
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.
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.
Business
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.
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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