Business
World Bank approves $400 million grant for Afghanistan
The $400 million grant by the World Bank is to alleviate the COVID-19 crisis in Afghanistan.
The World Bank approved $400 million Friday to sustain reform momentum and mitigate crisis caused by COVID-19 in Afghanistan.
In a press release Friday, the World Bank announced that its board of executive directors approved a $400 million grant for Afghanistan.
The grant is aimed “to help Afghanistan sustain the pace of key economic and public finance reforms, and support the country to manage current risks and uncertainties compounded by the COVID-19 crisis”.
The release highlights, “The Incentive Program Development Policy Grant comprises $160 million from the International Development Association (IDA).”
“The World Bank Group’s fund for the poorest countries, and $240 million from the Afghanistan Reconstruction Trust Fund (ARTF), managed by the World Bank on behalf of 34 donors,” said in the press release.
Aryan News Analytical
As per estimates, since the outbreak of the Coronavirus, millions of dollars in financial aid have flowed into the administration of Afghanistan.
Point to be noted for the time to reveal is know where and how these funds will actually be spent – whether they will be managed transparently in and for what is meant for.
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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