Business
World Bank to push ahead with some Afghan projects
The World Bank has resumed work on three projects in Afghanistan focused on health, agriculture and livelihoods, but will maintain a hold on some $150 million for education projects, two sources familiar with the decision said Tuesday.
The multilateral development bank had put all four projects, valued at around $600 million, on hold in late March, citing its deep concerns over the Islamic Emirate’s ban on girls attending public high school.
Group of Seven partners and other major donors to the Afghanistan Reconstruction Trust Fund (ARTF) will meet to discuss the country’s mounting economic and food security problems on Friday during the spring meetings of the International Monetary Fund and the World Bank, the U.S. Treasury announced on Monday.
Some multilateral organizations, including the IMF, the United Nations Assistance Mission in Afghanistan (UNAMA) and the Islamic Development Bank, will also take part, one of the sources said.
When it halted work on the four programs, the World Bank noted that its policies required all ARTF-financed activities to support access to – and equity of services for – women and girls in Afghanistan.
Officials decided to “resume preparations” for the three non-education projects, valued at around $450 million, given the deepening economic crisis in Afghanistan worsened by rising food and energy prices triggered by Russia’s war in Ukraine, one of the sources said.
Russia calls its actions “a special military operation.”
The World Bank last week issued a dire outlook for Afghanistan’s economy, noting that per capita income had fallen by over a third in the last four months of 2021 following the seizure of power by the Islamic Emirate (IE) as U.S.-led foreign forces withdrew.
It said around 37% of Afghan households did not have enough money to cover food while 33% could afford food but nothing more.
When it agreed to free up ARTF funds for new projects to be implemented by U.N. agencies, the World Bank had stipulated that it expected a “strong focus on ensuring that girls and women participate and benefit from the support.”
The Islamic Emirate of Afghanistan (IEA) has unraveled gains in rights made by women during the last two decades, including restricting them from working and limiting their travel unless accompanied by a close male relative. Most girls were also barred from going to public school beyond seventh grade.
The Ministry of Mines and Petroleum says it has signed 36 large and small mining contracts, with a total value of $1.3 billion over the past year.
Officials from the ministry stated that these contracts include 10 large mines, 25 small mines, as well as projects related to cement, salt, marble, and a major gas extraction contract with Uzbekistan, all signed with both domestic and foreign companies.
Meanwhile, economic experts have emphasized the importance of increasing investments in the mining sector for the country’s economic growth. They have stressed that priority in mining contracts should be given to domestic companies.
“It is better to prioritize domestic investors over foreign ones,” said Kamaluddin Kakar, an economic expert.
In the meantime, members of the private sector also stated that if both foreign companies and Afghan investors can partner in the mining sector, this will not only foster investment development in the country but also bring positive changes in capacity building within the mining extraction sector.
The press office of the Herat governor has announced the export of Afghanistan’s first shipment via the Khaf-Herat railway to Europe.
According to a statement from the office, the shipment includes 200 tons of dried fruits worth $1.2 million, which were exported to Turkey and Europe through the Khaf-Herat railway in the presence of Islam Jar, the governor of this province, and the Iranian Consul General.
The exported dried fruits in this shipment include pistachios, raisins, almonds, and pine nuts.
The statement added that over the past three months, more than 35,000 tons of goods have been transferred via the Khaf-Herat railway.
Business
Russia’s LPG exports to Afghanistan boom as Europe shuns it
The exports to Afghanistan, the main consumer of Russia’s LPG in the region, rose by 52% for the period to 71,000 tons.
Russia’s exports of liquefied petroleum gas (LPG) to Afghanistan and ex-Soviet states in Central Asia have jumped following introduction of European Union sanctions against Moscow at the end of 2024, industry sources said on Wednesday, Reuters reported.
The European Union’s sanctions against Russia’s LPG over the war in Ukraine took effect on December 20. The restrictions were proposed last year by Poland, one of Russia’s largest LPG importers.
LPG, or propane and butane, is mainly used as fuel for cars, heating and to produce other petrochemicals.
According to the industry sources, railway supplies of LPG from Russia’s plants, including the Kazrosgas joint venture with Kazakhstan, jumped to the region by 80% year on year in January – February to 140,000 metric tons, read the report.
The exports to Afghanistan, the main consumer of Russia’s LPG in the region, rose by 52% for the period to 71,000 tons.
Traders expect great scope for more supplies to Afghanistan, where annual demand for LPG is seen at around 700,000 tons per year.
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