ACCI Seeks World Bank Support to Boost Trade and Economy

Officials from Afghanistan’s Chamber of Commerce and Investment (ACCI) held a meeting with the World Bank country director for Afghanistan. The purpose was to establish banking facilities and accelerate trade. They discussed increasing trade between Afghanistan and countries in the region and worldwide.

The meeting focused on resuming incomplete World Bank projects. They discussed mechanizing agriculture, particularly the construction of cold storage facilities for farmers powered by solar energy. The allocation of water from the Qosh Tepa Canal was also addressed. Additionally, other major national projects were discussed.

Discussions also addressed resolving banking issues and supporting the private sector. 

Khan Jan Alokozay, a member of the board of directors of ACCI, said, “We discussed the challenges currently faced in transferring money globally through the TT system with the World Bank and banks.”

Also See: DAB Governor Seeks Support from Islamic Financial Institutions for Afghanistan’s Banking Sector

ACIM Calls for World Bank’s Support

Meanwhile, the Afghanistan Chamber of Industries and Mines (ACIM) stressed the importance of global institutions resuming their activities in Afghanistan. They specifically highlighted the need for the World Bank to return. This is essential to foster economic growth and development in the country.

“We hope the World Bank will remove restrictions imposed on foreign currency exchanges between countries. This action could support the people of Afghanistan and the private sector. Lifting banking restrictions will undoubtedly lead to economic stability, sustainable employment, and poverty reduction, which is also the international community’s goal,” said Sakhi Ahmad Paiman, First Deputy of the Afghanistan Chamber of Industries and Mines.

“If the World Bank returns to Afghanistan and funds the 7,500 projects it pledged in 2021 with five billion dollars, it could increase employment, consumption, and demand within the country,” said Sayed Masood, an economic analyst. 

Earlier, the Afghanistan Business Council in the United Arab Emirates held a meeting on September 28 and 29 this year with representatives from global organizations, including the World Bank, to discuss investment opportunities and the country’s economic development.

This news is sourced from [Tolo News] and is for informational purposes only.