China and Pakistan have reportedly agreed to extend the Belt and Road Initiative (BRI) into Afghanistan, potentially drawing in billions of dollars to fund infrastructure projects in the sanctions-hit country.
Silk Road Briefing on May 29 cited Pakistan’s Foreign Ministry as saying an agreement for the inclusion of Taliban-ruled Afghanistan was reached in Islamabad on May 28.
The extension of BRI to Afghanistan could have important trade and infrastructure ramifications for the countries of Central Asia, particularly its neighbours Uzbekistan, Tajikistan and Turkmenistan. Iran might also eventually stand to benefit as another neighbour of Afghanistan.
Elements of the $60bn China-Pakistan Economic Corridor (CPEC) will likely be planned with Afghanistan involvement if the BRI move enjoys clear implementation. Such implementation might depend on the stability, or instability, of the security-situation in the conflict-torn country.
A UN agency said last week the Taliban requires $4.6bn in 2023 to assist more than two-thirds of Afghanistan’s population of 40mn, most of whom are living in extreme poverty.
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