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MoF receives $189m in incentive from WB

MoF receives $189m in incentive from WB

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On
Jun 13, 2017 - 21:27

KABULinfo-icon (Pajhwok): The Ministry of Finance (MoF), after meeting certain benchmarks, has received $189 million in incentive from the Worldinfo-icon Bank, an official said on Tuesday.

Meanwhile, Afghanistaninfo-icon government’s revenue has reached 70 billion afghanis during the first six months of the current fiscal year.  

Ajmal Hameed Abdulrahimzai, MoF spokesman, shared recent achievements of the ministry with at a press conference here on Tuesday.

He said the World Bank on Monday provided $189 million to the MoF in incentive fund after bringing reforms to five key sections --- income resources, organizational structures, tax management, aid effectiveness and provincial budgeting.

Abdulrahimzai said the fund would be spent on development projects through the national budget, keeping in view priorities.

He said as a result of fulfilling IMF conditions the ministry was able to be included in the fund’s three-year program and receive IMF’s $6.2 million credit.

He said the money was available at Afghanistan’s treasuries and the Afghan government could avail from it in case of need.

Abdulrahimzai said obtaining the fund would increase Afghanistan’s credibility worldwide.

“The mentioned funds include $900 million that the World Bank has donated to MoF for three years (2016-2018) in return for reforms and of the amount, about $550 million has been so far received.”

He also said MoF in the first six months of the current financial year had collected revenues amounting to 70 billion afghanis.

The IMF has set Afghanistan the target of $153 million afghanis revenues collection for this year. Afghanistan’s total revenue in 1395 year was 145 billion afghanis.

sns/ma

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