ARTF Steering Committee Approves Three-Year Partnership Framework and Financing Program

Stocks and Financial Services Press Releases Tuesday June 26, 2018 09:25
KABUL--26 Jun--World Bank

KABUL, June 25, 2018 — The Afghanistan Reconstruction Trust Fund (ARTF), the largest source of on-budget financing for Afghanistan's development, will continue to support the government's poverty reduction, service delivery and inclusive growth efforts, contributing up to $2.485 billion over the next three years to the national budget, according to the results of a meeting held earlier today.

The ARTF is a multi-donor trust fund supported by 34 donors and administered by the World Bank. The ARTF's Steering Committee, comprising Ambassadors of donor countries and co-chaired by HE Eklil Hakimi, Minister of Finance and the World Bank Country Director, met today at the Presidential Palace.

The Steering Committee approved the ARTF's proposed Partnership Framework and Financing Program (PFFP) FY1397-1399 (2018-2020), which outlines how the Government will spend those funds with support from international partners.

"ARTF is an important mechanism for reliable, predictable and transparent on-budget support to the Government of Afghanistan. All planned investments in the PFFP are aligned with our core priorities based on the Afghanistan National Peace and Development Framework (ANPDF). Through this mechanism we are able to pool aid financing provided by the international community through a single mechanism with higher standards of transparency and accountability," said HE Eklil Hakimi, Minister of Finance addressing the Steering Committee.

Under the new PFFP, funding will continue to be provided for the priorities in the Afghanistan National Peace and Development Framework, introduced at the 2016 Brussels Conference on Afghanistan. The largest portion of ARTF funds, 37 percent, will be devoted to poverty reduction, service delivery, and citizen engagement, including programs in health, education, and the Citizens' Charter.

The ARTF will also support economic growth and job creation, governance and state effectiveness, and will provide fiscal stability support for civilian expenses of the Government, including civil servant salaries.

"The ARTF represents an unique partnership between Afghanistan and its international partners, one that has been in place since 2002, working for a better, more prosperous future for Afghanistan," said Shubham Chaudhuri, World Bank Country Director for Afghanistan. "The 2018-2020 PFFP reaffirms the commitment of the ARTF partners to continue working with the government of Afghanistan to improve the lives of all Afghans."

About the ARTF and the PFFP: The Afghanistan Reconstruction Trust Fund Steering (ARTF) is a multi-donor trust fund supported by 34 donors and administered by the World Bank. It provides on-budget financing to support the Government of the Islamic Republic of Afghanistan's development and reform priorities, and it is the single largest source of such funding to the Government. The Partnership Framework and Financing Program is the third three-year financing strategy for the ARTF. Previous strategies ran from FY1391 to 1393 (2012 to 2014), outlining three-year financing totaling $3.6 billion; and from FY1394 to 1396 (2015 to 2017), which outlined priorities for financing totaling $2.4 billion. The strategies summarize specifics of ARTF support to Government development and reform priorities.


Latest Press Release

KASIKORNBANK announces 2018 net profit of Baht 38,459 Million

Mr. Patchara Samalapa, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the year of 2018 of Baht 38,459 Million, an increase of Baht 4,121 Million or 12.00% over the previous year. Operating performance for the year of 2018 compared...

Siam Commercial Bank reported 2018 net profit of Baht 40.1 billion

Siam Commercial Bank and its subsidiaries announced net profit of Baht 7.1 billion in the fourth quarter of 2018 and Baht 40.1 billion for 2018 (based on unaudited consolidated financial statements), a 7.1% yoy decrease from a year ago. Total operating...

Johnson Johnson Completes Acquisition of Ci:z Holdings Co., Ltd.

Johnson & Johnson (NYSE:JNJ) today announced the completion of the acquisition of Ci:z Holdings Co., Ltd. (TYO: 4924) (the "Company") for a total purchase price of approximately JPY / CNY230 billion. The acquisition was completed through a series of...

Siam Commercial Bank Partners with Chaixi Bameekiao and Visa To facilitate QR payment for noodle franchise

- Ms. Pimjai Tongmee, SCB's Payment Product Sales and Delivery Division Executive Vice President - Mr. Panrob Kamla, President of Chaixi Bameekiao Co. Ltd - Mr. Suripong Tantiyanon, Country Manager for Visa Thailand "Siam Commercial Bank" (SCB)...

Isotropic Systems Raises $14 Million in Series A Funding Led by Boeing HorizonX Ventures to Advance Space-Based Connectivity

- Isotropic's approach to next-generation integrated terminal creates profound change in terminal economics and performance to unlock the satellite industry's full potential Isotropic Systems Ltd., the next-generation integrated satellite terminal...

Related Topics