Sunday, June 18, 2017

Development News

$520 Million from World Bank. A multi-million dollar package of funding for projects is to be used to assist Afghanistan's economy, build critical infrastructure, and support Afghan refugees sent back from Pakistan. Donor money is being provided by a number of countries to include Denmark, Germany, and Japan. The largest chunk of money will assist the refugees. Read more in "World Bank Gives Afghanistan $520 Million to Help Refugees, Boost Economy", Radio Free Europe / Radio Liberty, June 14, 2016.

Development Projects in Limbo. Hundreds of development projects are on hold, stalled, or not yet begun for a variety of reasons. Only 15% of annual budget for 2017 spent in first six months. Read more in "Hundreds of Development Projects Remain in Limbo", Tolo News, June 17,2017.

Afghan Mining Company Owner Indicted by U.S. The owner of a mining company in Afghanistan - which is no longer in business - has been indicted on charges of defrauding the U.S. government and defaulting on a loan of almost $16 million. He was arrested at the Dallas/Fort Worth International Airport on June 13, 2017. The loan was for the development, maintenance, and operation of a marble mine in western Afghanistan. Seems he thought it was a good idea to transfer the money into his personal bank account and default on the loan. I wonder how many times this has happened over the years in Afghanistan? Read more in "US Indicts Owner of Afghan Mining Company for Defrauding Government", Voice of America, June 17, 2017. Read more about the Afghan marble industry in western Afghanistan.

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