The Ministry of Finance (MoF) and Asian Development Bank (ADB) have signed a $ 348.78 million grant to help the development of water resources in Kandahar province through the expansion of Dahla Dam, the ministry said.
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MoF in a statement said on Wednesday that the Memorandum of Understanding was signed by Mohammad Humayon Qayoumi Acting Minister of Finance and Narendra Shreenath SINGRU, country director of ADB for Afghanistan.
While signing the MoU the acting finance ministry praised ADB’s assistance to Afghanistan and said that the grand will be financed through ADB’s dedicated fund and would be used in agriculture, natural resources and rural development.
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Meanwhile, the country director of ADB for Afghanistan said that signing this MoU reflects the bank’s long-term commitment to help improve the lives of the Afghan people by building the infrastructure and cooperation needed to build technical and management capacity.
He also said that the project will help improve Afghanistan’s agricultural productivity, water resources management, energy generation, and growth outlook.