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World Bank Approves $98.9m for Power Projects in Afghanistan

(Last Updated On: October 13, 2019)

The World Bank Group has approved a $98.8m financing package for two gas-to-power energy projects in Afghanistan.

The package will support Sheberghan and Mazar-e-Sharif Gas-to-Power Projects.

According to an official in the World Bank, Afghanistan’s energy needs are enormous and the new package will help Afghanistan’s development especially in terms of employment generation, economic growth and reduce of poverty.

“The World Bank is a main supporter of Afghanistan that provides help to our country in several aspects including energy sector,” said Shamrooz Khan Masjidi, a spokesman for the Afghan Ministry of Finance.

An official in the Afghanistan’s Chamber of Commerce and Investment (ACCI) also welcomed the World Bank support package.

Khan Jaan Alokozay, Deputy of ACCI said the package will encourage the private sector to invest more energy projects.

“There are a lot of Afghan companies invested in the country such as Ghazanfar and the Bayat Group. These companies have signed contracts with the government and would like to produce energy with their own initiatives,” Mr. Alokozay added.

Currently, Afghanistan is importing its needed energy from neighboring Tajikistan and Uzbekistan countries.

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