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ADB Grants for Building Salang Second Corridor

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(Last Updated On: September 24, 2016)

2The Asian Development Bank has signed a memorandum of Understanding with the Ministry of Finance and approved $ 31 million for launching the survey and designing of the second Salang corridor.

Building the second corridor in Salang will grow economy of Afghanistan and will connect the south Asian countries into middle Asia officials in Ministry of Finance urged.

The improved Salang Corridor will boost connectivity between Central Asia and South Asia, but using the current route in winter season is hard to move from one part to other parts of the country.

ADB Country Director in Afghanistan Tom Panella Said,” the ADB delegation has approved building of the second corridor to Salang last month with cost of $31 million where half of the amount is paid by Japan this will help Afghanistan infrastructure to be developed and improved,”

Meanwhile Afghanistan Finance Minister Iklil Hakimi has declared the inauguration of the second corridor to Salang would be counted as the biggest objectives of the National Unity Government in reconstruction of Afghanistan.

He said,” the importance of the Salang Pass is clear to all, from both Transit and business perspectives, more important Salang Pass plays important role as bridge between the central Asial and South Asian countries.”

“A new tunnel with the 12 kilo meter will be built from South part of Salang to North part of Salang in Doshakh area Minister of Public interest Mohammad Balegh said.”

Salang not only connects two parts of the country but it plays important role in growing and booming economy and transit, based on the daily estimation 5500 transpiration vehicles are using the following route.

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Covid-19 impacts; Afghanistan’s exports on hold

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(Last Updated On: June 3, 2020)

Afghanistan’s exports to other countries have been stalled due to the outbreak of the Coronavirus and no alternatives have been considered yet.

The Afghanistan Chamber of Commerce and Investment (ACCI) blames the government for failing to remove hurdles in Afghanistan’s exports, saying that the private sector will lose millions of dollars if trade with neighboring countries does not resume.

Officials in ACCI say that trade routes with neighboring countries have been blocked since the outbreak of the coronavirus, and the government has failed to find alternatives.

On the other hand, experts attribute the lack of work capacity in the Ministry of Commerce and Industry of Afghanistan to the decline in exports to other countries.

“Officials at the Ministry of Commerce and Industry of Afghanistan have failed to come up with a basic plan for exports and investment in the country,” experts say.

With the outbreak of the Coronavirus in the country, a number of countries, including Iran and Pakistan, have closed their borders with Afghanistan.

In addition to the cessation of Afghanistan’s exports, this act sparked prices to rise domestically.

Meanwhile, experts and traders believe that the government should look for alternative ways to keep the drift of export and import alive.

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Unprecedented growth in watermelon harvest – Farah

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(Last Updated On: June 2, 2020)

This year, more than 789,000 tons of watermelon will be harvested in Farah province.

The Ministry of Agriculture and Livestock said that the figure is up 6 percent compared to that of last year.

Officials at the Ministry of Agriculture and Livestock say that this year’s watermelon harvest in Farah province will be 789,400 metric tons. According to the officials, about 19,000 hectares of land have been cultivated  for watermelon in Farah province this year.

Meanwhile, a number of farmers in Farah province are worried about the lack of markets for the watermelon products.

They say that if there is no market, their products will be wasted.

This comes as a number of farmers in the province say that if the government doesn’t support the marketing of watermelon products in this province, their products will be destroyed this year.

Officials in the Chamber of Commerce and Investment have criticized the government, saying that the Ministry of Commerce should have previously marketed domestic products.

According to them, the government’s negligence will discourage farmers from producing crops.

They say South Asian countries are the best market for watermelon, but claim that Pakistan has blocked the export of the product to a number of countries.

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Da Afghanistan Bank sees increase in gross reserves

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(Last Updated On: June 1, 2020)

The gross domestic product (GDP) of the central bank of Afghanistan, Da Afghanistan Bank, has reached more than $9 billion for the first time.

Officials at the bank said that although the global aid to Afghanistan has declined, they have succeeded to increase the bank’s reserves.

Economists also underline that the central bank’s efforts will lure global funds.

The bank’s authority has stated that they have, for the first time, been able to increase the GDP to over $9 billion.

According to them, last year about AFN22 billion was deposited in the government reserves through investments in foreign financial institutions.

Although the Coronavirus pandemic has devalued Afghan currency against the dollar, the authority is pushing for effective programs to keep the value of the currency afloat, they said.

Welcoming the strengthening of the gross reserves of DAB, experts say that the central bank’s efforts would attract global funds for good.

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