• publish: 17 April 2019
  • time: 12:22 pm
  • category: Economy
  • No: 7835

German invests EUR 59 million on in Afghanistan

” Good governance, sustainable economic development, urban development and municipal infrastructure” are fields where Germany is going to invest in.

The German Ministry for Economic Cooperation and Development (BMZ) has committed to invest about AFN 5.1 billion (EUR 59 million) in these areas.

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.”

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