JEDDAH, 12 August 2003 — The Islamic Development Bank here has agreed to provide $4.7 million (SR17.63 million) in financial aid to Afghanistan to set up a women’s hostel for Kabul University. IDB President Dr. Ahmed Muhammad Ali signed an agreement in this respect with Afghan Finance Minister Dr. Ashraf Ghani following a meeting at the bank’s headquarters here yesterday.
The bank’s board of governors had earlier allocated $50 million (SR187.5 million) for the reconstruction of the war-torn country. Of the $50 million, $10 million will be given as a non-refundable grant with the rest in the form of soft loans. “Yesterday’s agreement comes within the framework of the $50 million aid allocated by the IDB board to Afghanistan,” a press statement issued by the bank said.
The new financial aid was offered to encourage Afghan girls, especially from areas outside the capital Kabul, to pursue a university education.
During his meeting with Ghani, the IDB president highlighted the bank’s efforts in extending humanitarian assistance to the Afghan people over the past years, either directly or through international relief agencies.
The Afghan minister asked the bank to provide technical assistance and send experts from member states to provide training to Afghan government employees.
Dr. Ali emphasized the need to restore peace and stability in Afghanistan in order to help regional and international developmental organizations extend their services and carry out their activities in the country.
