Left Menu
Development News Edition

World Bank VP recommits to supporting Afghanistan on path to self-reliance

During the visit, Schafer met with President Mohammad Ashraf Ghani, Chief Executive Abdullah Abdullah, Acting Finance Minister Mohammad Humayon Qayoumi, and representatives of Afghanistan's international partner organizations.


World Bank VP recommits to supporting Afghanistan on path to self-reliance
Schafer also explored ways in which the government could maintain the current development trend and service delivery after a possible political settlement. Image Credit: Twitter(@HartwigSchafer)

World Bank Vice President for the South Asia Region, Hartwig Schafer, today concluded his two-day visit to Afghanistan to discuss the country's current economic developments and growth trajectory, and to reconfirm the World Bank's commitment to supporting the country on its path to self-reliance.

During the visit, Schafer met with President Mohammad Ashraf Ghani, Chief Executive Abdullah Abdullah, Acting Finance Minister Mohammad Humayon Qayoumi, and representatives of Afghanistan's international partner organizations.

Schafer also explored ways in which the government could maintain the current development trend and service delivery after a possible political settlement.

"At this critical juncture in its political history, more than ever Afghanistan needs continued service delivery by the government, economic growth, and job creation to consolidate and sustain a potential political settlement," said Schafer. "I renew the World Bank's commitment to stand with the Afghan people in their efforts to achieve economic growth and self-reliance, and we will work with the international community to ensure financial support to the country."

In his meeting with Afghanistan's international partners, Schafer discussed future financing of the Afghanistan Reconstruction Trust Fund (ARTF) and preparations for the next Afghanistan ministerial conference where the Afghan government and its partners will explore the future of international support that fuels the country's development. The conference will provide an opportunity for the Afghan government to engage with the international community and discuss future aid commitments to Afghanistan as existing pledges are due to expire at the end of 2020.

Although progress toward self-reliance is being achieved in Afghanistan with government revenues reaching $2.5 billion in 2018, Afghanistan will continue to depend on the international community's financial support in the medium term before domestic revenues and private sector growth can finance more government expenditure.

Over the coming years, the Afghan government will necessarily depend on aid grants to maintain the delivery of basic public services in key areas such as health and education, invest in the Afghan private sector that will enable Afghanistan's economy to grow faster and become less dependent on aid grants over time, and finance community programs and job creation schemes to help sustain and consolidate any possible political settlement.

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

SDG2030: Challenges of technological applications in advancing Global Goals

Application of contemporary and future information technologies may go milestones in advancing sustainable development goals SDGs provided the challenges are overcome and implementation is ensured....

Sustainable Fashion: UNDP wants you to wear properly to reduce Global Warming 

The experts have estimated that the amount of water used to prepare one pair of jeans and a T shirt is sufficient for a person to drink for 13 years....

World Economic Forum suggests 8 Education Models for Future Schools

In a report released on January 14, the World Economic Forum WEF has also picked two examples for each model from throughout the world. The WEF has emphasized that these schools systems would be crucial for Forth Industrial Revolution.&#160...

Bitterness before US-China Trade Deal on Wednesday

Both the superpowers are going to sign Phase 1 of the US-China Trade Deal on Wednesday. The stock markets are hovering on all time high but the questions are being raised on sustainability of the deal as spat continue between them on severa...

Videos

Latest News

BCCI condoles death of scorer Kousik Saha

The Indian Cricket Board BCCI on Saturday condoled the sudden demise of its scorer Kousik Saha, who passed away in Kolkata on Friday following a cardiac arrest. Saha, 52, was admitted to the hospital for treatment related to diabetes last w...

Sania Mirza and her partner Nadiia Kichenok win WTA Hobart International doubles title.

Sania Mirza and her partner Nadiia Kichenok win WTA Hobart International doubles title....

It's a game to enjoy: Matic ahead of Liverpool clash

Ahead of the clash against Premier League table-toppers Liverpool, Manchester Uniteds Nemanja Matic said it is a game to enjoy. Of course, it will be another big game for us and Liverpool as we know we are in a good run. But its a game to e...

NBA roundup: Doncic, Mavs shoot past Blazers

Luka Doncic made a career-best eight 3-pointers and recorded 35 points, eight rebounds and seven assists to lead the Dallas Mavericks to a 120-112 victory over the visiting Portland Trail Blazers on Friday night. Tim Hardaway Jr. made five ...

Give Feedback