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LOANS & CREDITS March 28, 2018

Modernizing Afghan State-Owned Banks Project

World Bank News Release: Loan and Credit Summary

WASHINGTON, March 28, 2018 - The World Bank’s Board of Executive Directors today approved the following project:

Modernizing Afghan State Owned Banks Project

IDA Grant: US$40 million

Terms: 5 year period from 01 June 2018 to 30 June, 2021

Project ID: P161348

Project Description: The program development objective is to strengthen corporate governance and enhance operational efficiency of state owned banks. The project will contribute to the modernization, transparency, and efficiency of the three Afghan state-owned banks: New Kabul Bank, Bank Millie Afghan and Pashtany Bank, and will modernize their IT infrastructure and develop sustainable business models to support inclusive growth.