MANILA, PHILIPPINES – A new irrigation project in northern Afghanistan will improve livelihoods and boost crop yields in poor, rural communities, with a $10 million grant from the Asian Development Bank (ADB) and Japan Fund for Poverty Reduction (JFPR) to rehabilitate at least 120 small scale irrigation systems.

The project will take place in the provinces of Baghlan, Balkh, Ghor and Samangan and involve close cooperation with communities to tap their labor and local knowledge.

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ADB Assistance to Developing Asia Tops $21.7 Billion in 2011

MANILA, PHILIPPINES – The Asian Development Bank (ADB) approved $21.72 billion in financing operations last year, a 14.5% increase on ADB’s previous year’s financing, according to its 2011 Annual Report, released ahead of the organization’s 45th Annual Meeting of the Board of Governors, to be held from 2 to 5 May in Manila, Philippines.

BANGKOK, THAILAND – Climate change will cause an upward surge in migration this century, and governments in disaster-prone Asia-Pacific nations must promptly enact a broad range of measures to stave off future humanitarian crises, according to a new Asian Development Bank (ADB) report released today.

14 December 2011 - The Asian Development Bank (ADB) has approved the following technical assistance:

Description: The project will help Afghan commercial banks and microfinance institutions expand their presence and increase access to finance in rural areas. It will also include support for the development of Islamic finance products. A lack of access to finance is undermining livelihood opportunities in rural areas where 75% of the population lives, of which more than 45% live below the national poverty line.

MANILA, PHILIPPINES – The Asian Development Bank (ADB) has approved $754 million in assistance to rebuild Afghanistan’s shattered road and rail network, bringing to more than $1.7 billion the amount it has contributed to reconstruction of the country’s infrastructure over the past decade.

The multitranche financing facility (MFF) approved by ADB’s Board of Directors on Tuesday will upgrade hundreds of kilometers of priority roads and fund construction of new facilities to complement the recently completed train line connecting the northern hub of Mazar-e-Sharif and Uzbekistan.

The agreements will be signed in Kabul by Minister of Finance Omar Zakhilwal and Robert Rinker, ADB's Afghanistan Country Director.

A $340 million ADB grant will fund construction of 233 km of road connecting the towns of Qaisar, Bala Murghab, and Laman

"The new rail link between Mazar-e-Sharif and Hairatan will help reduce trade bottlenecks, boost commerce, and speed the flow of much-needed humanitarian assistance," Mr. Kuroda said at the opening ceremony in Hairatan.

"It represents Afghanistan's emergence as a regional crossroad for trade and commerce and - most importantly

"We're committed to working with the Government of Afghanistan to facilitate economic growth and to contribute to poverty reduction. We're here for the long haul," Mr. Kuroda said.

On the occasion of President Kuroda's visit, Mr. Zakhilwal stated, "We are honored to have Asian Development