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Home >> Business
UPDATED: 08:30, December 15, 2005
World Bank approves 80 million US dollars to Afghanistan
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In the continuation of its support to the Afghan government, the World Bank (WB) approved a grant of 80 million US dollars to Afghanistan on Tuesday, said a press release of the bank received in Kabul Wednesday.

"The program supported by the grant is at core of the government's objective to build an accountable and effective state. This is critical for successful poverty reduction," Jean Mazurelle, the bank's country manager for Afghanistan, noted in the press release.

In the press release the world's leading lending agency also appreciated the post-war Afghanistan for its recovery from the war aftermath and promised more assistance.

"The government has made significant progress in implementing important economic reforms since 2004. Notable among these achievements are improvements in fiduciary standards, adoption of modern civil service, budget and procurement laws and initiation of a significant merit-based recruitment process," the bank stressed in its statement.

The World Bank has contributed over 900 million US dollars to the post-war Afghanistan since 2002 with major part being soft loans.

Source: Xinhua


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