• publish: 11 September 2015
  • time: 10:11 pm
  • category: Economy
  • No: 1204

Islamic Development Bank pledges fresh aid to Afghanistan

The Islamic Development Bank (IDB) announced Friday that it’s working jointly with the Afghan government on a four-year plan aimed at providing assistance to boost the agriculture sector in Afghanistan.

The IDB officials said that the bank was willing to provide long-term Islamic development loans to Afghanistan at the request of the Afghan government.

Underlining the factors playing a key role in Afghanistan’s economic growth, IDB officials said that the Afghan economy was vastly relying on agriculture, a key point that motivates IDB to consider fresh financial aid to Afghanistan.

Reacting to the IDB announcement, officials from the Afghan Ministry of Agriculture have said that Afghanistan was still in need of financial cooperation of monetary institutions to boost its basic economic infrastructure and domestic production.

“The new minister of agriculture and irrigation, while explaining his 100-Day plan, drew an explicit and positive strategy to them to ask for more aid to farmers and payment of loans,” Lotfullah Rashid, spokesman to ministry of agriculture said.

The main purpose of the Islamic Development Bank (IDB) is to foster the economic progress of the Islamic countries and Muslim communities individually as well as jointly.

Currently, the IDB funding project is worth $80 million in Afghanistan.

Considering the effective role of IDB’s financial aid, some Afghan economic commentators have said that government can take advantage of the monetary body by forging inclusive economic plans.

1 Comment

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  1. hashimi at 12 September 2015:
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    asalamu alaikum
    this is a very good improvement and a good news for the afghan agriculture sector .
    I have 500 jereb of agricultural land in north of Kabul and keen to get this loan and improve our economy.

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