BearingPoint bags Afghanistan contract
- By Patience Wait
- Mar 27, 2003
Consulting firm BearingPoint Inc. has won a second contract to play a role in restructuring the economic environment of Afghanistan.
The McLean, Va., company won a three-year, $39.9 million contract from the U.S. Agency for International Development to help the Afghan government implement policy and institutional reform measures for economic development, the company announced Thursday. The contract includes an option for two years, which would bring the value of the project to $64.1 million.
The economic reform project will focus on five areas:Fiscal reform through tax policy, administrative reforms and improved budget planning.Banking reform, including enhancing the operations of the central bank to bolster its credibility and autonomy and providing a regulatory framework for the re-emergence of a commercial banking sector.Trade policy, strengthening the government's capacity to design and implement trade reforms and formulate trade policies that promote private sector investment and export-led growth.Legal and regulator frameworks for a market-led economy and assisting in reformulating the regulatory framework governing public utilities such as water, power and telecommunications.Private sector development, assisting in implementing a strategy to stimulate private sector development of commercial, industrial and financial enterprises.
"This project is designed to provide critical support toward implementing a successful recovery and reconstruction strategy in Afghanistan," said Darwin Johnson, senior vice president, public services, for BearingPoint. "We plan to help meet this challenge by working with USAID and the government of Afghanistan to develop governmental policies and institutions that can pave the way toward a vibrant Afghan economy."
This is the second major contract for the company involving the reconstruction of Afghanistan. In January, the company announced it won a contract financed by the World Bank to help the Afghan government upgrade its accounting system.
BearingPoint, formerly KPMG Consulting Inc., has 9,300 employees. The company reported 2002 revenue of $2.4 billion.