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Germany commits to invest AFN 5.1 billion in Afghanistan

17 Apr 2019 The Khaama Press News Agency

The German Ministry for Economic Cooperation and Development

(BMZ) has committed to invest about AFN 5.1 billion (EUR 59 million), focussing

on good governance, sustainable economic development as well as urban

development and municipal infrastructure.

According to a statement released by German Cooperation with

Afghanistan, an additional AFN 8.7 billion (EUR 100 million) shall be allocated

to the Afghanistan Reconstruction Trust Fund (ARTF). Since 2001, the German

government has invested about AFN 345 billion (EUR 4.06 billion) in

Afghanistan.

The statement further added “In return for investments,

Germany expects the Afghan government to meet its commitments to carry out

reforms when it comes to fighting corruption, preventing violence against women,

promoting women’s rights and equal opportunities, as well as transparency in

the mining and extractives sector. Therefore, AFN 5.2 billion (EUR 60 million)

of the envisaged total commitment of AFN 8.7 billion (EUR 100 million)

allocated to ARTF will be subject to the implementation of jointly agreed

reforms.”

The statement also added “Furthermore, AFN 3.5 billion (EUR

40 million) of bilateral cooperation to be invested in the energy sector are

conditional on concluding operation and maintenance guidelines for existing and

planned infrastructure projects to ensure their sustainability.”

Germany remains committed to contribute to sustainable

development, peace, and stability in Afghanistan, the statement said.

In his opening speech, the Head of the Afghanistan/Pakistan

division of the German Federal Ministry for Economic Cooperation and

Development (BMZ), Dr Henning Plate, emphasised “Germany remains committed as a

reliable long-term partner for the development of Afghanistan and its people –

as we always have in the past. Germany will continue to support development in

Afghanistan with funding up to EUR 430 million a year until 2020.”

The post Germany commits to invest AFN 5.1 billion in Afghanistan appeared first on The Khaama Press News Agency.

Original Link: https://www.khaama.com/germany-commits-to-invest-afn-5-1-billion-in-afghanistan-03739/

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