The United States announced today, through the Departments of the Treasury and the Department of State, and in cooperation with international partners, including the Swiss government and Afghan economic experts, that the nation of Afghanistan, or “Afghanistan,” will be created. Foundation.”
The United States remains committed to supporting the people of Afghanistan amid ongoing economic and humanitarian crises. Pursuant to Executive Order (E.O.) 14064, President Biden established a policy that allows the use of $3.5 billion in Central Bank of Afghanistan reserves for the benefit of the Afghan people while keeping them out of the hands of the Taliban and other malign actors. The Afghanistan Fund protects, preserves and makes targeted disbursements of its $3.5 billion to help ensure greater stability in the Afghan economy.
The Taliban is not part of the Afghanistan Fund and strong safeguards are in place to prevent funds from being used for illicit activities. The Afghanistan Fund maintains its account at the Bank for International Settlements (BIS) in Switzerland. The BIS is an international financial organization that provides a range of financial services, including banking services to central banks, monetary institutions and international financial institutions (see www.bis.org). An external auditor monitors and audits the Afghan Fund in accordance with Swiss law.
“The people of Afghanistan are facing humanitarian and economic crises born of decades of conflict, severe drought, COVID-19 and endemic corruption,” said US Deputy Secretary of State Wendy Sherman. “Today, the United States and its partners are taking an important and concrete step forward to ensure that additional resources can be deployed to reduce the suffering of the Afghan people and improve economic stability, while holding the Taliban accountable.”
“The Afghanistan Fund helps alleviate the economic challenges facing Afghanistan while protecting and preserving Da Afghanistan Bank’s (DAB) $3.5 billion in reserves for the benefit of the Afghan people,” said US Under Secretary Wally Adeyemo. from the state treasury. “Taliban repression and economic mismanagement have exacerbated Afghanistan’s long-standing economic challenges, including through actions that have reduced the capacity of key Afghan economic institutions and made their return to Afghanistan unacceptable. Through this fund, the United States works closely with our international partners to facilitate the use of these assets to improve the lives of ordinary people in Afghanistan.
“In response to the critical challenges facing the people of Afghanistan, the United States is already the largest donor of humanitarian aid,” Sherman also noted. “We have worked with the World Bank and the Asian Development Bank to make more than $1 billion in aid available for basic services and other urgent needs, in addition to providing more than $814 million in U.S. humanitarian aid directly to implementing partners to support the people of Afghanistan while preventing financial allocation to the Taliban The Afghanistan Fund is now part of our ongoing diplomatic and humanitarian efforts on behalf of the Afghan people.
According to the World Bank, income and economic output in Afghanistan have fallen by 20 to 30 percent, imports have fallen by about 40 percent, and about 70 percent of Afghan households report that they cannot fully meet their basic food or non-food needs. Disbursements from the Afghan fund could include keeping Afghanistan on track with debt payments to international financial institutions that would maintain its eligibility for development aid, and paying for critical imports such as electricity.
Central Bank of Afghanistan (DAB) When the Taliban took over Kabul, the Central Bank of Afghanistan, DAB, lost access to its accounts at financial institutions worldwide — not just in the United States — because it was unclear who could authorize transactions on DAB accounts. Since then, the economic situation in Afghanistan has continued to deteriorate due to the Taliban’s economic mismanagement and failure to restore critical capabilities for the DAB, such as adequate anti-money laundering and countering the financing of terrorism (AML/CFT).
In order to restore the confidence of the international financial community, the DAB must demonstrate that it has the knowledge, capacity and independence necessary to carry out the central bank’s tasks responsibly. To move towards this goal, the DAB must demonstrate that it is free from political interference, has appropriate money laundering and terrorist financing controls, and has conducted a third-party needs assessment and engaged a third-party monitoring system.
The Afghanistan Fund The Afghanistan Fund is a Swiss foundation established to protect, preserve and target $3.5 billion for the people of Afghanistan. The Afghanistan Fund can also be a vehicle to protect and pay out other foreign reserves of the Central Bank of Afghanistan that are currently held in other countries. These disbursements are intended to help mitigate the acute effects of Afghanistan’s economic and humanitarian crises by supporting Afghanistan’s macroeconomic and financial stability.
Location of Assets The Afghan Fund maintains its account at the Bank for International Settlements (BIS). BIS is an established international financial organization that provides a range of financial services, including banking services to central banks, monetary institutions and international financial institutions. See www.bis.org.
BIS acts as an intermediary bank and does not participate in the management of the Afghanistan Fund or perform related tasks such as disbursement approval.
Use of Funds In the short term, the Afghanistan Fund’s Board of Trustees has the ability to authorize targeted disbursements to promote financial and macroeconomic stability and benefit the people of Afghanistan. This could include paying for critical imports such as electricity, paying off Afghanistan’s debts to international financial institutions to maintain their eligibility for financial support, paying for essential central bank services such as SWIFT payments and more.
In the long term, the aim is for funds not used for these limited purposes to return to the DAB. The US has made it clear that we will not support the return of these funds until the DAB: (1) demonstrates its independence from political influence and interference; (2) demonstrates that it has established adequate anti-money laundering and countering the financing of terrorism (AML/CFT) controls; and (3) completes a third-party needs assessment and adds a trusted third-party monitor.
Management of the Afghanistan Fund The Afghanistan Fund is located in Geneva, Switzerland, and the fund is supervised by a board of trustees. Currently, the board consists of two highly qualified Afghan economic experts with relevant macroeconomic and monetary policy experience, a representative of the US government, and a representative of the Swiss government. The Afghanistan Fund is supported by international partners committed to supporting sustainable financial and macroeconomic stability in Afghanistan. An external auditor monitors and audits the Afghan Fund in accordance with Swiss law.
The legal basis for the transfer of assets of the Central Bank of Afghanistan on February 11, 2022, was signed by President E.O. 14064 to help enable certain assets held by DAB held in the United States to be used for the benefit of the people of Afghanistan. Subsequently, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued a license allowing up to $3.5 billion in DAB funds to be transferred to the people of Afghanistan.
In accordance with past practice and after the Taliban takeover, the State Department recognized two individuals under Section 25B of the Federal Reserve Act as having joint authority to receive, control, or dispose of assets from the DAB account. These individuals established the Afghanistan Foundation as a legal entity in Switzerland.
Why did US lose Afghanistan?
Many believe this is because the military power of the United States has declined and its superpower status has greatly diminished. Some say it lost due to a lack of determination, while others attribute it to the legendary fighting prowess of the supposedly indomitable Afghans.
Why did the US fight for Afghanistan? NATO allies went to Afghanistan after the 9/11 terrorist attacks against the United States to ensure that the country did not once again become a safe haven for international terrorists to attack NATO members. See the article : The FIFA Club World Cup could be coming to the US. In the last two decades, not a single terrorist attack has come from Afghanistan on allied soil.
Why did the US withdraw from Afghanistan?
The US-Taliban deal Withdrawal was conditional on the Taliban adhering to the terms of the agreement, which included “not allowing al-Qaeda or any other extremist group to operate in areas they control.” The US had to reduce its forces in Afghanistan by about 5,000 troops to 8,600 in 135 days.
Did the US lose the Afghanistan?
Long after the political world has moved on, scientists and soldiers are still dissecting two decades of war. See the article : He was denied a US student visa three times, but he didn’t admit it was wrong: “I cried a lot”.. And the US defeat in Afghanistan raises many questions for these posthumous people: Why did the US lose?
How many did the US lose in Afghanistan?
2,456 US soldiers died in the war in Afghanistan. 1,932 of these deaths were the result of hostilities. See the article : U.S. Attorney’s Office Releases Second Quarter Immigration Enforcement Statistics for 2022. 20,752 American servicemen were also wounded during the war. In addition, 18 employees of the Central Intelligence Agency (CIA) were also killed in Afghanistan.
How many countries are helping Afghanistan right now?
October 5, 2016: 75 countries and 26 international organizations and agencies pledged US$15.2 billion in financial support to Afghanistan until 2020.
Which country helped the most in Afghanistan? In addition to basic needs, the United States has also supported programs aimed at improving human rights in Afghanistan, particularly for women, girls, and minority communities. The US remains the largest donor of humanitarian aid in Afghanistan.
Which country support Taliban now?
Shaheen, whose appointment has not been confirmed by the United Nations, told VOA that Taliban diplomats have been “accepted” by about 10 countries, including China, Iran, Malaysia, Pakistan, Qatar, Russia, Saudi Arabia and Turkmenistan.
Which countries support Afghanistan now?
It has continued to maintain close ties with North America, the European Union, South Korea, Japan, Australia, India, Pakistan, China, Russia, and Middle Eastern countries (specifically Turkey), as well as African countries.
How much aid does U.S. give to Afghanistan?
The United Nations Office for the Coordination of Humanitarian Affairs reported that donors contributed $1.67 billion to humanitarian aid programs in Afghanistan in 2021. The largest contribution, more than 425 million dollars, was made by the United States.
How much money has the US given to Afghanistan? The United Nations Office for the Coordination of Humanitarian Affairs reported that donors contributed $1.67 billion to humanitarian aid programs in Afghanistan in 2021. The largest contribution, more than 425 million dollars, was made by the United States. These amounts far exceeded humanitarian aid in previous years.
How much military aid did U.S. give to Afghanistan?
Since 2002, the United States has provided nearly $88 billion in security assistance, $36 billion in civilian aid, including $787 million specifically earmarked to support Afghan women and girls, and nearly $3.9 billion in humanitarian aid to Afghanistan.
Does the U.S. still give aid to Afghanistan?
The White House announced that the United States is donating an additional $308 million in humanitarian aid to Afghanistan, bringing U.S. aid to Afghanistan and Afghan refugees to nearly $782 million since October.
Is Afghanistan safe now?
You should not travel to Afghanistan. The security situation in Afghanistan remains extremely volatile. There is a constant and high risk of terrorist attacks throughout Afghanistan, including around the airport. Travel throughout Afghanistan is extremely dangerous and border crossings may not be open.
How safe is Afghanistan now? The situation in Afghanistan remains highly volatile and dangerous. The threat of terrorist attacks is constant and very high, especially around the Kabul International Airport. There have been attacks around the airport that have resulted in casualties. The risk of further attacks on airports remains high.
Is it safe for tourists in Afghanistan?
Avoid all travel due to Afghanistan’s security situation, terrorist attacks, ongoing armed conflicts, risk of kidnapping and high crime rate.
