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Newsletter
Ministry of Finance and German Development Bank KfW sign financing agreements over EUR 65 million
Publish Date: Dec 27, 2011In support of the Afghan reconstruction and development efforts, the Ministry of Finance and the German Development Bank (KfW Entwicklungsbank) signed two Financing Agreements worth EUR 65 million (approx. USD 87 million). The long-standing partnership between Afghanistan and Germany will be expanded through these funds committed by the German Federal Ministry for Economic Cooperation and Development (BMZ) benefiting the Regional Infrastructure Development Fund (RIDF – EUR 25 million, approx. USD 33,5 million) and the Afghanistan Reconstruction Trust Fund (ARTF – EUR 40 million, approx. USD 53,5 million) and. This brings the German contribution to the ARTF to EUR 283 million to date. Since early 2002, payments of donors such as Germany have made ARTF the largest contributor to the Afghan budget for both operating costs and development programs.
The Fund plays a major role for national priority programs, for operating costs of government operations and for the policy reform agenda. Therefore the ARTF is heavily contributing to the achievement of the Afghanistan National Development Strategy goals and improved effectiveness of reconstruction efforts. The RIDF is aimed at enabling provincial authorities in Badakhshan, Baghlan, Balkh, Kunduz and Takhar provinces to respond autonomously to the development needs of their provinces and districts and to realise infrastructure projects without external assistance. This is not only enhancing people’s quality of life in the region, but also strengthening their confidence in government structures and in their elected representatives.
His Excellency Minister Zakhilwal of the Ministry of Finance is welcoming the German assistance for ARTF and RIDF: “We were pleased to see that the German contribution reflects Afghan priorities. We hope that this is the beginning of a trend that will lead to more Afghan ownership of development assistance. The transition of support through the sub-national governance will build the capacity of provincial line departments.”
