Kabul, Sep 4 (IANS): The World Bank Wednesday provided a grant of $50 million to the Afghanistan government to help promote economic growth and fiscal sustainability.

A pact to this effect was signed between the finance ministry and the World Bank, reports Xinhua.

"The grant is being provided by the International Development Association (IDA), the World Bank's concessional lending arm," the ministry said.

Afghan Foreign Minister Omar Zakhilwal said that the grant would assist the government in furthering reforms in key institutions.

World Bank's Bob Saum said: "Developing and implementing policy reforms are essential for attracting investments in all sectors, particularly those with high growth potential."

"Despite challenges and endemic security implications, Afghanistan's development track record over the past decade is commendable," he said.

"Of note, these achievements include rapid economic growth and significant improvements in public financial management," he noted.