PRESS RELEASE - Kabul - April 14 2014

PRESS RELEASE

Kabul, April 14 2014

Contact: Flouran Wali

E-mail: flouran_wali@dai.com

The Agricultural Development Fund (ADF) today confirmed that Afghan authorities this week arrested a former ADF employee, Mr. Khalil Qadery, on charges related to theft of ADF funds.

“We are delighted with this development in the investigation,” said H.E. Mohammad Asif Rahimi, Minister of Agriculture and Chairman of the High Council of the ADF. “We would like to pay tribute to Afghan law enforcement agencies and their counterparts.

Operating under the auspices of the Ministry of Agriculture, Irrigation and Livestock, the ADF is a wholesale financial institution established through Presidential Decree to make credit available to Afghanistan’s agriculture sector. The ADF’s lending capital consists of US$100 million granted by USAID directly to the Government of the Islamic Republic of Afghanistan.

The incident took place on April 18, 2013, when Mr. Qadery allegedly diverted a large sum of money from its intended recipient. Within hours of the incident, ADF alerted the USAID Inspector General and other relevant parties, and Afghan authorities launched an aggressive investigation, which led to the arrest of Mr. Qadery in Mazar-e-Sharif this week.

The ADF looks forward to cooperating fully with any prosecution brought by GIRoA in connection with this matter.

The ADF is one of the most successful collaborations between USAID and the Afghan government. Since its inception, it has processed loans worth more than US$85 million, reaching 23,000 farm households in 33 of Afghanistan’s 34 provinces. ADF clients have repaid US$23 million, allowing the institution to maintain a default rate substantially below the global average for agricultural credit.

DOWNLOAD PDF

 

Go to top