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Swiss-based trust fund for frozen Afghan assets meets in Geneva

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The board of a Swiss-based trust fund managing some $3.5 billion in frozen assets seized after the Islamic Emirate of Afghanistan(IEA) took power last year is meeting in Geneva for the first time on Monday, a Swiss government spokesperson confirmed.

The frozen central bank reserves were recently transferred from Washington into the ‘Fund for the Afghan People’ where US officials say it will be shielded from the IEA. The latter has condemned the transfer, calling it a violation of international norms.

The agenda of the meeting is not yet public.

The fund’s statutes says its purpose is to “receive, protect, preserve and disburse assets for the benefit of the Afghan people”. But how and when the four-member board will disburse the money remains to be decided, Reuters reported.

After decades of war and drought, half of Afghanistan’s population, or 24 million people, are in need of humanitarian assistance according to the United Nations.

However, a full-scale transfer back to Afghanistan’s central bank, known as DAB, is seen as all but impossible with a top official who is under both US and UN sanctions.

The Swiss fund’s statutes indicate that disbursements will be for macroeconomic purposes, such as foreign exchange rate and price stabilization.

The $3.5 billion forms part of an original $7 billion being held in the United States following the IEA takeover in August 2021. The other half is being contested in lawsuits against the IEA stemming from the Sept. 11, 2001 attacks on the United States.

Trustees include Swiss foreign ministry official Alexandra Baumann, U.S. Ambassador to Switzerland Scott Miller, Anwar Ahady, a former Afghan central bank chief and former finance minister, and Shah Mehrabi, a U.S. academic who remains on the DAB Supreme Council.

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Afghanistan and Kyrgyzstan boost trade and digital finance ties

Minister Sydykov, in turn, pledged the continuation of Kyrgyzstan’s humanitarian assistance to Afghanistan and highlighted his country’s interest in working together on e-governance initiatives.

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Afghanistan’s Deputy Prime Minister for Administrative Affairs, Abdul Salam Hanafi, has met with a high-level Kyrgyz delegation led by Minister of Economy and Commerce Bakhyt Sydykov to discuss expanding bilateral trade and strengthening cooperation in digital financial services.

During the meeting, Hanafi reaffirmed Afghanistan’s readiness to deepen ties with Kyrgyzstan, stressing the importance of developing electronic administration systems and modern banking channels to facilitate trade and financial transactions between the two countries.

Minister Sydykov, in turn, pledged the continuation of Kyrgyzstan’s humanitarian assistance to Afghanistan and highlighted his country’s interest in working together on e-governance initiatives. He also pointed to potential cooperation in areas such as the printing of securities and the development of electronic payment systems.

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India reaffirms healthcare support to Afghanistan, hands over medicines and vaccines

Indian officials said the support underscores New Delhi’s commitment to helping improve healthcare services and access to life-saving treatment in Afghanistan.

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India has reaffirmed its commitment to continued humanitarian assistance and healthcare cooperation with Afghanistan, with a focus on the long-term supply of essential medicines.

According to the Ministry of Health and Family Welfare of the Government of India, Union Health Minister J.P. Nadda held a productive meeting with Afghanistan’s Minister of Public Health, Noor Jalal Jalali. The discussions focused on strengthening cooperation in the health sector and addressing the medical needs of the Afghan people.

During the meeting, a symbolic handover of cancer medicines and vaccines was carried out, reflecting India’s ongoing support for Afghanistan’s healthcare system. The ministry also announced that a larger consignment of medicines, vaccines, and a 128-slice CT scanner is being dispatched to Afghanistan as part of India’s humanitarian assistance efforts.

Indian officials said the support underscores New Delhi’s commitment to helping improve healthcare services and access to life-saving treatment in Afghanistan.

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Afghan forces target hideout of suspects linked to cross-border attacks on Chinese nationals

Afghan forces target hideout of suspects linked to cross-border attacks on Chinese nationals

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Security sources said that special forces of the Islamic Emirate of Afghanistan (IEA) have targeted a hideout in Badakhshan province linked to suspects involved in attacks against Chinese nationals in neighboring Tajikistan.

According to the sources, the operation was carried out on Tuesday night in Faizabad city, where several individuals suspected of orchestrating cross-border attacks from Badakhshan’s frontier regions were believed to be present. As a result of the operation, one wanted suspect was arrested alive along with weapons and other military equipment.

The sources added that preliminary investigations and initial confessions by the detainee indicate the planning of the attacks was carried out from outside Afghanistan.

This comes as Tajikistan’s Ministry of Foreign Affairs announced on November 27 that three Chinese citizens were killed in an attack in Khatlon province.

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