Grant signed to help Afghan farmers

Karl W. Eikenberry, United States Ambassador to Afghanistan

A $100 million grant that will give Afghan farmers more access to financial credit was signed at a ceremony today at Kabul’s Badam Bagh Demonstration Farm.  The main purpose of the grant, which is called the Agricultural Development Fund is to help Afghan farmers expand their production. This will further improve Afghanistan’s economy and eventually improve the standard of living in the country.

American officials led by U.S. Ambassador Karl Eikenberry, Afghan Minister of Agriculture Asif Rahimi and Afghan Minister of Finance Omar Zakhilwal were present at the ceremony. 

“The $100 million grant will lend money to financial and non-financial institutions, such as banks, microfinance institutions, farm stores, agricultural depots and food processors.  These loans will then be extended to farmers for necessary equipment, seed and other materials to expand agricultural production, ” said a press release issued by the Embassy of the United States in Kabul today.

“Today’s grant signing ceremony is an example of the United States Government’s commitment to help the many small commercial farmers in Afghanistan to increase their production and succeed,” said U.S. Ambassador Eikenberry “I look forward to visiting farms and agricultural businesses around the country that have expanded their enterprises with financing obtained from the new Agricultural Development Fund.”

July 21, 2010   Posted in: Afghanistan's Economy, Reconstruction and Development