Donors pledge $16bn in Afghanistan aid

TOKYO // Donor nations yesterday pledged US$16 billion (Dh58bn) for Afghanistan to prevent the country from sliding back into turmoil when foreign combat troops depart, but called on Kabul to implement reforms to fight graft.

A statement at the closing of a conference in Tokyo confirmed donors would stump up $16 billion in civilian aid through 2015, with several preconditions including a clampdown on corruption.

The Afghan president, Hamid Karzai, was in the Japanese capital along with Hillary Clinton, the US secretary of state, and Ban Ki-moon, the UN secretary-general, for talks focused on the so-called "transformation decade" after the Nato drawdown.

Yesterday's conference hosted representatives from about 80 nations and international organisations in a gathering aimed at adopting the "Tokyo Declaration", pledging support and cash for the turmoil-wracked nation.

The deal is meant to plug the gap between what Kabul gets from its barely-functioning economy and what it needs to develop into a stable country. Afghanistan covers only a third of the $6 billion it spends each year, not counting security costs, and has for a long time been heavily dependent on aid.

There are fears that once the US and its allies no longer have to worry about their soldiers dying in Afghanistan after the pullout in 2014 the country could drift into the hands of drug lords and extremists.

The deal calls for a monitoring mechanism, and follow-up ministerial meetings every two years, to ensure Afghanistan stays on the right track with respect to holding democratic elections, fighting corruption and promoting human rights.

The Afghan foreign minister, Zalmai Rassoul, said Kabul would make good on its commitments.

""The Afghan government will deliver," he said. "We are talking about the future. We are not talking about the past. And there is no choice. That is the duty that the Afghan government will deliver."

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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TCL INFO

Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.