EU allocates €19.8m for Afghanistan’s economic stability

KABUL (Pajhwok): The European Union (EU) has allocated €19.8 million to address the immediate needs of Afghans in economic stability, inclusion and resilience.

The EU allocated €19.8 million to the Aga Khan Foundation and Aga Khan Cultural Services to implement the “Economic Resilience, Women’s Economic Empowerment, and Job Creation in Afghanistan” initiative, the bloc said.

This project, with a total value of €22 million, aims to address the immediate needs of Afghan communities while fostering long-term economic stability, inclusion and resilience.

“Millions in Afghanistan remain trapped in poverty, with women disproportionately bearing the burden,” said Veronika Boskovic Pohar, EU chargeé d’affaires.

“This initiative supports inclusive and sustainable economic growth, helping communities build self-reliance. By enhancing employment, income generation, and productivity, it promotes resilient livelihoods, particularly for women and other vulnerable groups, including youth, returnees, internally displaced people, and farmers affected by the poppy ban.

“The program also considers the severe impact of climate change in Afghanistan by introducing climate-smart technologies and helping communities withstand climate-induced shocks. Additionally, the EU recognises the importance of access to finance and continues to support it through Community-Based Savings Groups under this initiative.”

Dr. Najmudin Najm, chief executive officer of AKF and AKDN coordinator in Afghanistan, said: “We are excited to announce the signing of a new project with the European Union in Afghanistan, further strengthening the longstanding partnership between the EU and the Aga Khan Development Network (AKDN) in the country.”

“This collaboration highlights the EU and AKDN’s shared commitment to supporting Afghanistan, with a focus on creating economic wellbeing and livelihoods development opportunities for some of the most vulnerable people, including women and youth.”

sa/mud