ABA Conducts Access to Finance Business to Bank Roundtable for Minnig sector in Kabul
Date: February 17, 2015
Afghanistan Banks Association (ABA) with support from USAID's FAIDA project, and in collaboration of USAID’s Mining Investment and Development for Afghan Sustainability (MIDAS) project, organized a one-day ABA-Access to Finance Business to Bank Roundtable event for Financing in Mining Sector in Kabul on February 17, 2015.
The roundtable targeted both national and international mining companies operating in Afghanistan by facilitating access to finance through linking them with potential and available lenders. The roundtable provided the companies with the opportunity to exchange ideas in identifying challenges and opportunities in improving their productivity and linkage to finance.
In this event, the government high officials namely H.E. Minister of Mines and Petroleum Dr. Dawood Shah Sabah, H.E. Deputy Minister of Finance, Dr. Mustafa Mastoor, H.E. DAB Acting Governor, Mr. Khan Afzal Hadawal, ABA Chairman Mr. Siar Khoreishi, ABA Deputy Executive Director Mr. Najibullah Amiri and other ABA staff, government officials, FAIDA staff, representatives from MIDAS/USAID, International Finance Corporation (IFC), ABA 12 Member banks, Microfinance Institutions, other financial organizations, Insurance companies, media, private mining sector representatives from the Afghanistan Marble Association, Afghanistan Gemstone Association, and other national and international organizations, the individual companies and businesses involved in mining sector (in total 165 male/female) attended.
The H. E. Minister of Mines, H.E. Deputy Minister of Finance, DAB Acting Governor and ABA Chairman delivered speech on various aspects of mining sector included challenges, opportunities, threats, strengths and weaknesses. Moreover, ABA Chairman, presented a speech on financing of the mining sector, banks’ capacity of lending, different types of loan risks and other challenges faced by the banks for investment in mining sector.
ABA Member banks (out of 15 member banks 12 banks took active part in this event), by which 10 of them had table for showcasing promotional material, 6 of them delivered presentations on their products and services especially on their loan portfolios, loans schemes and procedures. Moreover, ABA member banks had roundtable discussions with mining sector businesses, explaining banks loan size, procedures, criteria, repayment, interest rate and other specifications and learned about mining sector markets and their challenges. During the business to bank round table discussions, 35 potential loans were discussed with estimated worth of $ 16.8 million in (Marble, Gypsum, Geo-Science, Jewelry, Mineral Extraction, Oil and Gas, Precious Stones, Stone and Coal, Mining and Construction.
Following to the session, a panel discussion on Financing in Mining Sector was arranged where ABA’s chairman was member of panel discussion. He answered all the questions raised by the mining businessmen on financing of mining sector by the banks and its circumstance.
At the end of the program, appreciation certificates were distributed to companies and members who took part in the event. From ABA, Mr. Najibullah Amiri, Deputy Executive Director and Acting Director of ABA distributed the certificates to the companies.
