Innovative Afghan businesses receive UK aid grants
Fourteen businesses from across Afghanistan have received grants totalling £2.5 million through the Afghanistan Business Innovation Fund.
Fourteen businesses from across Afghanistan have received grants totalling £2.5 million of UK aid through the Afghanistan Business Innovation Fund (ABIF). The grants will support new investment projects enabling recipients to expand their activities in Afghanistan, which will in turn create jobs and help the local economy.
At a ceremony held at the British Embassy in Kabul, Afghan formal grant agreements were signed. The grants were awarded to carpet, furniture, healthcare, horticulture, livestock and mining businesses.
Speaking at the event, British Ambassador, Sir Richard Stagg said:
Private sector development is key to the future prosperity of Afghanistan. ABIF support ensures that businesses have the potential to transform markets for the benefit of Afghan consumers, producers and workers.
This is another example of how the UK is working hard to support Afghanistan’s long-term prosperity and development.
The UK’s Department for International Development (DFID) Afghanistan Head of Office, Mark Mallalieu, said:
This programme will make a big difference to businesses all over Afghanistan. Helping Afghan businesses grow will contribute towards economic self-sufficiency and improve employment opportunities for a workforce that sees 400,000 new entrants every year.
The UK, through DFID, is providing long-term support to Afghanistan and is committed to assisting the development of the private sector by working with Afghan businesses, supporting to the Ministry of Commerce & Industries and the Ministry of Mines & Petroleum, and through the Afghanistan Infrastructure Trust Fund.
All of the 14 programmes being funded will provide the private sector with increased opportunities to invest in Afghanistan; to provide jobs for Afghans; and to contribute to increased economic activity with associated growth in tax revenues.
ABIF is a private sector investment challenge fund, funded by DFID (with support from the Australian Government). In the previous round of grants, commitments of approximately £1.5 million were made to seven grantees in the horticulture, livestock, furniture, pharmacy and textile sectors.
Notes to editors
The first round of funding helped eight businesses across Afghanistan.
About DFID
DFID works closely with the international community and other partners to support the development of Afghan security, governance, infrastructure, economy and the provision of essential services. It has agreed to provide £178 million of development funding every year until at least 2017.
For further information please contact
Emily Poyser, Head of Press, DFID Afghanistan
Email: e-poyser@dfid.gov.uk
To find out more about ABIF, visit: www.imurabba.org