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World Bank approves $400 million grant for Afghanistan

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(Last Updated On: May 8, 2020)

The $400 million grant by the World Bank is to alleviate the COVID-19 crisis in Afghanistan.

The World Bank approved $400 million Friday to sustain reform momentum and mitigate crisis caused by COVID-19 in Afghanistan.

In a press release Friday, the World Bank announced that its board of executive directors approved a $400 million grant for Afghanistan.

The grant is aimed “to help Afghanistan sustain the pace of key economic and public finance reforms, and support the country to manage current risks and uncertainties compounded by the COVID-19 crisis”.

The release highlights, “The Incentive Program Development Policy Grant comprises $160 million from the International Development Association (IDA).”

“The World Bank Group’s fund for the poorest countries, and $240 million from the Afghanistan Reconstruction Trust Fund (ARTF), managed by the World Bank on behalf of 34 donors,” said in the press release.

Aryan News Analytical

As per estimates, since the outbreak of the Coronavirus, millions of dollars in financial aid have flowed into the administration of Afghanistan.

Point to be noted for the time to reveal is know where and how these funds will actually be spent – whether they will be managed transparently in and for what is meant for.

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Ronaldo’s bottle removal gesture costs Coca-Cola $4 billion

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(Last Updated On: June 16, 2021)

Global soft drink giant Coca-Cola Company lost $4 billion value in Market after all-time soccer superstar Cristiano Ronaldo removed two Coca-Cola bottles during a press conference at the Euro 2020 on Monday, the Business Insider reported.

Ronaldo, the Portugal Football Team captain, moved the cola bottles aside as he sat down to speak to the media before Tuesday’s Group F opener against Hungary.

The 36-year-old followed it by holding a bottle of water before shouting in Portuguese: ‘Agua!’ – the Portuguese word for water.

According to the Insider, Coca-Cola’s shares were trading around $56.17 when the market opened on Monday, but fell 1.6% to $55.22 by the end of the press conference.

“That led to a sharp drop in market value from $242 billion to $238 billion. The soft-drink manufacturer’s shares closed at $55.41 per share on Tuesday,” the report said.

Coca-Cola, one of the official sponsors of Euro 2020, has not officially commented about the incident so far.

 

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MDHI secures $43.9m in contracts to support Afghan Air Force

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(Last Updated On: June 16, 2021)

American MD Helicopters, Inc. (MDHI) has confirmed it has been awarded two separate contracts worth $43.9 million from Army Contracting Command-Redstone supporting the Afghan Air Force’s MD 530F Cayuse Warrior light attack helicopters.

In a statement issued by the company, MDHI stated the first contract, a six-month extension worth $14.5 million, continues MDHI’s longstanding efforts to provide program management, and contractor logistics support services, material, and remote operations to support the Afghan fleet.

Work will take place in Mesa, Arizona in the US; Kabul, Afghanistan; and Al-Ain, United Arab Emirates. The contract was awarded on May 28, 2021, MDHI stated.

The second contract, worth $29.4 million, modifies MDHI’s original maintenance capabilities support contract.

Under this six-month contract, MD Helicopters will provide continued maintenance, repairs, updates, and overhauls of the Afghan Air Force’s MD 530F Cayuse Warrior helicopters in Mesa, Kabul, and Al-Ain. The contract was awarded on June 10, 2021.

“While U.S. forces begin the drawdown process in Afghanistan, these contracts allow us to help Afghanistan’s Air Force maintain stability on their own through the continued support of their aircraft,” said Nick Nenadovic, MD Helicopters Vice President, Aftermarket and Customer Support.

“This further highlights the value our government and the Afghan Air Force put on the MD 530F. It is with tremendous pride we can continue providing the highest level of support for both our government and allies.”

The enhanced MD 530F Cayuse Warrior is a light armed attack helicopter respected for its power, safety, speed, agility, and unparalleled confined area capabilities.

The aircraft supports a wide range of training and operational missions, providing safe, efficient multi-mission support with an increased performance profile.

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Afghanistan and Turkmenistan to sign marble export agreement

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(Last Updated On: June 6, 2021)

Minister of Foreign Affairs Mohammad Haneef Atmar and Foreign Minister of Turkmenistan Rashid Meredov, have discussed Afghanistan exporting marble to Turkmenistan.

In a statement issued by the Afghan foreign ministry, MoFA said the Afghan delegation provided comprehensive information to their Turkmen counterparts on the various natural resources and rare stones available in Afghanistan.

The Afghan delegation said the export of the resources would be significant in strengthening and expanding trade between Kabul and Ashgabat.

Highlighting development taking place and the construction around building new cities in Turkmenistan, the Turkmen delegation discussed their requirement for marble and expressed Turkmenistan’s full readiness to procure marble from Afghanistan.

The two sides agreed to sign an agreement on Afghanistan’s marble export to Turkmenistan.

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