Latest News
World Bank board backs using $1 billion in frozen Afghan funds for aid
The executive board of the World Bank on Tuesday approved a plan to use more than $1 billion from a frozen Afghanistan trust fund to finance urgently needed education, agriculture, health and family programs, the bank announced.
The plan, which will bypass sanctioned Islamic Emirate of Afghanistan (IEA) authorities by disbursing the money through U.N. agencies and international aid groups, will provide a major boost to efforts to ease the country’s worsening humanitarian and economic crises, Reuters reported.
The approach “aims to support the delivery of essential basic services, protect vulnerable Afghans, help preserve human capital and key economic and social services, and reduce the need for humanitarian assistance in the future,” the bank said in a statement.
Afghanistan Reconstruction Trust Fund (ARTF) was frozen in August when the IEA overran Kabul as the last U.S.-led international troops departed after 20 years of war.
According to the report foreign governments ended financial aid constituting more than 70% of government expenditures while the United States led in the freezing of some $9 billion in Afghan central bank funds.
The funding cuts accelerated an economic collapse, fueling a cash crunch and deepening a humanitarian crisis that the United Nations says has pushed more than half of Afghanistan’s population of 39 million to the verge of starvation, read the report.
The World Bank statement said that as a first step, ARTF donors will decide on four projects worth about $600 million that will support “urgent needs in education, heath and agricultural sectors, as well as community livelihoods.”
There will be a “strong focus on ensuring that girls and women participate and benefit from the support,” the statement continued.
Latest News
Afghan and Iranian officials discuss expanding economic cooperation
Ahmad Jan Bilal, General Director of State-Owned Corporations, met on Tuesday with Iran’s Ambassador to Kabul, Ali Reza Bikdeli, to discuss expanding bilateral economic cooperation and following up on issues raised during his recent visit to Iran.
According to a statement from the General Directorate of State-Owned Companies, the meeting focused on reviewing ways to implement discussions held with Iranian officials during Bilal’s visit.
Bikdeli described the visit as positive and productive, stressing the importance of following up on the issues discussed and taking practical steps to advance bilateral cooperation.
He said Iran is ready to cooperate with Afghanistan in oil and gas exploration, extraction and exports, refinery construction, agriculture, water and electricity.
Bilal, for his part, said the Islamic Emirate is interested in expanding joint cooperation with Iran in energy, agriculture, industrial development and other economic sectors. He added that his office would work with the Iranian side to turn the proposed areas of cooperation into practical initiatives.
Bilal also reaffirmed his office’s commitment to following up on the issues discussed during his recent visit to Iran and working towards their implementation in coordination with Iranian officials.
Bilal recently visited Iran at the head of a delegation, holding talks with several Iranian officials on expanding economic, trade and investment ties, particularly in the state-owned companies sector.
Latest News
Ariana Airlines reduces Kabul–Islamabad–Kabul airfares by $20
Ariana Afghan Airlines announced on Tuesday a reduction in ticket prices for flights on the Kabul–Islamabad–Kabul route from $190 to $170.
According to the airline, passengers can now purchase tickets for this route at $20 less than the previous fare.
The airline has also set a special fare of $150 for students travelling on this route.
Ariana Afghan Airlines said the move aims to reduce travel costs and make air travel more affordable and accessible for passengers and students.
Latest News
Afghanistan and Russia discuss expanding economic ties and boosting bilateral trade
During the meeting, Muttaqi stressed that Afghanistan and Russia should expand economic cooperation based on shared interests and mutual benefits.
Afghanistan’s Foreign Minister Amir Khan Muttaqi has met with Zamir Kabulov, Russian President’s Special Representative for Afghanistan, to discuss strengthening bilateral relations, expanding economic cooperation and increasing trade between the two countries.
During the meeting, Muttaqi stressed that Afghanistan and Russia should expand economic cooperation based on shared interests and mutual benefits.
Kabulov, meanwhile, praised the Islamic Emirate’s efforts to combat drug trafficking and cultivation, saying reports by some international organisations on the issue do not reflect the realities on the ground.
Muttaqi reiterated that the Islamic Emirate remains committed to combating drug cultivation, production and trafficking, describing these efforts as important for the security and stability of both Afghanistan and the wider region.
The meeting comes amid continued efforts by Kabul and Moscow to strengthen diplomatic and economic engagement and explore opportunities for broader bilateral cooperation.
-
Regional4 days agoIran sent nuclear proposal to the US via Qatar, senior Iranian official tells Reuters
-
Sport2 days agoAfghanistan’s record partnership highlights fourth day of Test against Zimbabwe
-
World3 days agoHouthi-run health ministry says airstrikes kill 33 near Yemen capital
-
Sport3 days agoToofan Herat defeat Arman FC 2–0 in Afghanistan Champions League
-
Sport4 days agoAbu Muslim Farah claim convincing 3-0 win over Omar Zawak in ACL
-
Sport2 days agoAfghanistan thrash Senegal 6-0 to reach Dakar Youth Olympics futsal semi-finals
-
Regional4 days agoPakistan’s leaders dread US Democrats’ win but its households are praying for it
-
Sport4 days agoAfghanistan trail Zimbabwe by 391 runs at stumps on day two of first test
