News Update :

Kingdom to Help Build Part of Afghanistan’s Road Network

Saturday, January 19, 2013

RIYADH, 4 August 2003 — Saudi Arabia, the United States and Japan have pledged $180 million to rebuild a portion of Afghanistan’s road network. The work on the project, which was suggested immediately after the US-led war on Afghanistan, has already begun, according to Afghan Ambassador Mohammed Anwar Neko Omar.

“The project, which will link Kabul, Kandahar and Herat, will be completed within a year,” said Ambassador Neko here yesterday.

“Saudi Arabia has also pledged a new credit facility of $20 million for building other access roads in the country. A delegation from the Saudi Fund for Development (SFD) will visit Kabul shortly to discuss the details of the credit facility,” the ambassador said while thanking the Saudi government for the assistance.

Referring to the jointly-funded road project, Neko said that it, along with other roads connecting Afghanistan with its neighbors, will set the scene for a complete transportation system in the country. This will also help the business sector lower tariffs and eliminate other trade barriers.

To launch the reconstruction, the US has contributed $80 million, Japan $50 million and Saudi Arabia another $50 million, said the ambassador. The Kingdom has always been in the forefront of nations who have provided aid and loans to Afghanistan.

Meanwhile, The Kuwait Fund for Arab Economic Development (KFAED) has extended Afghanistan a $15-million loan to finance construction of a road.

The road will connect the southern city of Kandahar to Spin Boldak further to the east, close to the border with Pakistan, according to a KFAED statement.

The fund will be managed on behalf of KFAED by the Islamic Development Bank, an offshoot of the Saudi-based Organization of the Islamic Conference.

Source :
Share this Article on :

No comments:

Post a Comment

You may like this


© Copyright Global News 2010 -2011 | Design by Thaha Naleem | Published by Magazine Templates | Powered by