KABUL: The Ministry of Finance (MoF) on Monday announced that the World Bank (WB) has announced a $186 million USD incentive package as part of the bank’s three year program to encourage reforms and fight corruption.
MoF spokesman Ajmal Hamid Abdul Rahimzai said the money would be allocated to a number of major projects in the country.
Meanwhile, economic commentators have said that the lack of a working economic strategy has kept Afghanistan dependent on foreign aid.
“Unless now there is a visible and positive change in the lives of the families, we won’t be able to have a developed society,” said economic analyst Nabi Sadat.
Revenue collection by the ministry of finance has noticeably increased over the past two years as a result of reforms implemented, said Rahimzai.
“On the basis of reforms we had in the financial, structural, and management (processes) of the aid and its spending, until now we have managed to get $550 million USD in incentives from the World Bank,” said MoF spokesman Ajmal Hamid Abdul Rahimizai.
An agreement was signed between the Ministry of Finance and the World Bank in 2016 on the basis of which the WB committed to provide nearly $900 million USD in incentives to the Afghan finance ministry in exchange for reforms.
According to ministry of finance, so far the bank has provided $550 million USD to Afghanistan.
