World Bank to provide $8 mln grant to Afghanistan


In a fresh support to Afghanistan, the World Bank announced a grant of $8 million to the war-torn country bolster reconstruction process.

The new contribution was announced by the bank's president Robert B. Zoellick here after his three-day tour to Afghanistan and meeting Afghan leaders including President Hamid Karzai.

“Zoellick announced support to Afghanistan from the Bank's new Global Food Crisis Response Program, which will give $8 million for the rehabilitation of around 500 small, traditional irrigation schemes critical to the recovery of the country's agriculture,” a statement of the bank’s Kabul office said.

“The World Bank is committed to supporting Afghanistan's efforts to overcome poverty, promote economic and social development, and strengthen governance and anti-corruption measures amid a challenging security situation,” Robert B. Zoellick said.

President of the Washington-based leading lending agency, according to the statement, reaffirmed the institution's long-term commitment to Afghanistan and support for its new five-year plan to reduce poverty and promote economic and social development.

Since the resumption of operations in Afghanistan in April 2002, the World Bank Group has financed 41 projects, committing around $1.69 billion of which $1.25 billion is grant, the statement said. (Xinhua)


MNB Moves Forward With Phase-in of Capital Buffer Rates MNB

MNB Moves Forward With Phase-in of Capital Buffer Rates

Orbán Participates at Milei Inauguration in Buenos Aires Int’l Relations

Orbán Participates at Milei Inauguration in Buenos Aires

EV Demand Constantly Growing Automotive

EV Demand Constantly Growing

Number of Guest Nights up 5.1%  Tourism

Number of Guest Nights up 5.1% 


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.