The Asian Development Bank has established a fund that will pool all public and private contributions targeting efforts to develop Afghanistan’s infrastructure.
ADB made the announcement on Dec. 1, six months since Kabul hosted a donor conference for Afghanistan, where members of the international community appealed to the bank to create a dedicated fund for Afghanistan’s infrastructure development.
Afghan Minister of Finance Omar Zakhilwal thanked the bank for its action.
“The ADB is renewing its enduring commitment to Afghanistan by establishing the Afghanistan Infrastructure Trust Fund, which will serve to fund the next generation of key infrastructure projects throughout the country,” he said, as quoted by an ADB press release.
The press release notes that Afghanistan will need some USD4.3 billion in the next three years to meet its infrastructure needs, including stronger transport links, energy security, partnerships for the development of mineral resources, and support for private sector development.