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The Asian Development Bank is to set up a special fund aimed at seeking support from regional countries for the implementation of fundamental projects in Afghanistan, an official said on Tuesday. Deputy Minister of Customs and Revenue, Sayed Mubin Shah, who participated in the Central Asia Regional Economic Cooperation (CAREC)'s ministerial meeting in Philippine, told reporters in Kabul over the telephone that the decision was taken at the summit hosted by the government of Afghanistan on the Philippines’ island of Cebu.
Asian Development Bank (ADB) President Haruhiko Kuroda opened the ministerial meeting on Tuesday with a call for member countries to take a long-term view on regional cooperation and to focus their actions to build upon past successes that include $13 billion in CAREC-associated investments in energy, trade, and transportation.
Shah said the proposed fund for Afghanistan was being raised by CAREC programme member countries for the implementation of fundamental projects in the war-torn country.
He added Pakistan and Turkmenistan, both neighbours of Afghanistan, have become members of CAREC Programme -- now a partnership of 10 countries including Afghanistan, Azerbaijan, the People’s Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan and six multilateral institutions including ADB, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme and World Bank.
Shah said Pakistan and Turkmenistan could also play a key role in developing energy, trade and transportation systems among member countries.
He said the accession of the two new members would have a positive impact on the economy of regional countries in particular Afghanistan which would play the role of a bridge between the regional countries.
Shah said issues of energy, transport, trade facilities of Afghanistan were discussed with member countries at the 9th Ministerial Conference of the CAREC Programme.
The member states announced their support to the fund which would be managed by the Asian Development Bank (ADB), he added. The members also agreed to work jointly on a railways project connecting northern Balkh, Kandahar, Jalalabad to Aqina port in Turkmenistan and Chaman border town in Pakistan, Shah said.
He said the summit participants promised to help Afghanistan construct Jalalabad-Jablul Saraj and Kabul-Jalalabad roads and the ring road. He said the country would be facilitated in the import of electricity from Tajikistan.
The ADB has promised to help the Afghan government start work on the ring road, work on which will start after three months.
According to the Ministry of Finance, the ADB had donated about $2 billion over the last eight years and had pledged $548 million for the construction of the ring road. The Afghan government had received $1.1 billion since it become member of the CAREC programme.
Hi, I am the source.
Asian Development Bank (ADB) President Haruhiko Kuroda opened the ministerial meeting on Tuesday with a call for member countries to take a long-term view on regional cooperation and to focus their actions to build upon past successes that include $13 billion in CAREC-associated investments in energy, trade, and transportation.
Shah said the proposed fund for Afghanistan was being raised by CAREC programme member countries for the implementation of fundamental projects in the war-torn country.
He added Pakistan and Turkmenistan, both neighbours of Afghanistan, have become members of CAREC Programme -- now a partnership of 10 countries including Afghanistan, Azerbaijan, the People’s Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan and six multilateral institutions including ADB, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme and World Bank.
Shah said Pakistan and Turkmenistan could also play a key role in developing energy, trade and transportation systems among member countries.
He said the accession of the two new members would have a positive impact on the economy of regional countries in particular Afghanistan which would play the role of a bridge between the regional countries.
Shah said issues of energy, transport, trade facilities of Afghanistan were discussed with member countries at the 9th Ministerial Conference of the CAREC Programme.
The member states announced their support to the fund which would be managed by the Asian Development Bank (ADB), he added. The members also agreed to work jointly on a railways project connecting northern Balkh, Kandahar, Jalalabad to Aqina port in Turkmenistan and Chaman border town in Pakistan, Shah said.
He said the summit participants promised to help Afghanistan construct Jalalabad-Jablul Saraj and Kabul-Jalalabad roads and the ring road. He said the country would be facilitated in the import of electricity from Tajikistan.
The ADB has promised to help the Afghan government start work on the ring road, work on which will start after three months.
According to the Ministry of Finance, the ADB had donated about $2 billion over the last eight years and had pledged $548 million for the construction of the ring road. The Afghan government had received $1.1 billion since it become member of the CAREC programme.
Hi, I am the source.