• 20.08.2015

    $10 Million Investment Partnerships in Hirat Completed

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    Hirat Governor Hon. Mohammad Asif Rahimi delivers the keynote speech during the Hirat PPA Ceremony. 

    Hirat, August 19 – Representatives from small and medium enterprises gathered in Hirat on 18 August to celebrate the successful completion of 13 investment partnerships. The partnerships were formed between small and medium enterprises in Hirat and the USAID-funded Assistance in Building Afghanistan by Developing Enterprises (ABADE) Program. As a catalyst for growth in the private sector, these investments facilitate the expansion and diversification of investment partners’ production lines. Of the total ten million dollars invested, SME partners contributed the bulk of the investment, $8.79 million towards their new or expanding business ventures, with contributions of $1.22 million in new equipment and technical assistance from ABADE.

    At the event, the keynote speaker, the Hirat Provincial Governor Hon. Mohammad Asif Rahimi said, “Expanding your businesses and venturing into new activities brings a fresh energy to the economy in the province. The private sector, especially the business community, is the real agent of change and development in our community, so let me encourage you to continue to develop your businesses, produce more and better products, and hire more new workers. Economic development is a big part of my governance platform and I appreciate the strong support of USAID in helping develop the business sector in Hirat.”

    An ABADE investment partner, Mr. Ebrahim Mohammadi, President of Mohammadi Mirtamani Chicken Feed Production Co. noted, “We used to import the feeds for my two poultry farms. The imported feed was not only expensive but it was also nutritionally deficient. Through our investment partnership, ABADE worked us with to purchase a modern poultry feed production line and now we are producing our own nutritionally-enhanced feeds and also supplying other poultry farms. There is huge demand for poultry feed in Hirat and I am very happy to be the first producer of commercial feed in Hirat.”

    The other speakers in the event were representatives of the Economy Department of Hirat, the Hirat Directorate of Commerce and Industries, and the Hirat Chamber of Commerce and Industries. More than 70 individuals attended the event, including current investment partners, business owners from Hirat City and representatives of development and donor organizations.

    To date, there are 57 investment partnerships in Hirat with a total value $37.6 million. ABADE has created 237 investment partnerships in ten provinces across the country with a total investment value of over $175 million. ABADE’s investment partnership program is designed to encourage business growth and job creation by mitigating the risks of private sector investment. ABADE is a four-year program that will run until October 2016.