Officials at Ministry of Finance (MoF) on Saturday said the Islamic Development Bank (IDB) provided government with 74 million USD for the construction of Kabul’s ring road as a long-term loan. Finance Minister Eklil Hakimi and Vice President of Islamic Development Bank (IDB) Sayed Aqa signed a soft loan agreement for construction of Kabul City Ring Road (KRR) and its other related infrastructures yesterday. Kabul’s four lane ring road will extend 95km and all of Kabul’s neighbouring provinces will be connected to this highway. Finance Minister Eklil Hakimi said, “The Total cost of this project is estimated 110 million USD, while Afghanistan will provide 34.28 million USD”. The Vice President of IDB said, “Construction of Kabul Ring Road has economic value for both Afghanistan and the region”. He added, “The IDB will continue its support to Afghanistan”.
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