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UN sets up trust fund for ‘people’s economy’ in Afghanistan

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(Last Updated On: October 21, 2021)

The United Nations said on Thursday it had set up a special trust fund to provide urgently-needed cash directly to Afghans through a system that would tap into donor funds frozen since the Islamic Emirate of Afghanistan (IEA) takeover in August.

Achim Steiner, the UN Development Programme’s (UNDP) administrator, said that Germany, a first contributor, had pledged 50 million euros ($58 million) to the fund, and that it was in touch with other donors.

“Discussions over the last few weeks have focused on how we do find a way to be able to mobilise these resources in view of the economic implosion that is now unfolding and the international community’s repeated commitment not to abandon the people of Afghanistan,” he told a news briefing.

This comes after US Deputy Treasury Secretary Wally Adeyemo said on Tuesday he sees no situation where the IEA would be allowed access to Afghan central bank reserves, which are largely held in the United States.

The IEA has called for the United States to lift a block on more than $9 billion of Afghan central bank reserves held outside the country as the government struggles to contain a deepening economic crisis.

“We believe that it’s essential that we maintain our sanctions against the Taliban (IEA) but at the same time find ways for legitimate humanitarian assistance to get to the Afghan people. That’s exactly what we’re doing,” Adeyemo told the Senate Banking Committee.

Washington and other Western countries are grappling with difficult choices as a severe humanitarian crisis looms large in Afghanistan. They have been trying to work out how to engage with the IEA without granting them legitimacy, while ensuring humanitarian aid flows into the country.

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Otunbayeva meets acting head of TVET in Kabul

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(Last Updated On: February 6, 2023)

The head of the United Nations Assistance Mission in Afghanistan (UNAMA) emphasized the need for the inclusion of women and girls in vocational education on Monday in a meeting with Ghulam Haider Shahamat, acting head of Technical Vocational Education and Training (TVET).

In this meeting, Roza Otunbayeva said that vocational training is necessary for the economic development of Afghanistan and women and girls should be included.

Shahamat also expressed that technical and vocational education is effective for poverty alleviation and the growth of the country’s economy.

“The Technical Vocational Education and Training has 383 institutes and high schools all over Afghanistan, which operate in 250 districts and have 6850 staff,” said Shahamat.

Meanwhile, some experts say that Afghanistan needs to develop and create job opportunities for everyone, especially women and girls, and all international institutions play a constructive role for Afghanistan’s progress.

“All organizations which work under the framework of the United Nations can have positive roles in Afghanistan,” said Sarah Rahmani, women rights activist.

In this meeting, the head of the United Nations Cultural and Scientific Organization (UNESCO) was also present and emphasized on signing an agreement and creating a joint working group between both institutions.

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Afghanistan’s central bank to auction $17 million this week

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(Last Updated On: February 6, 2023)

Da Afghanistan Bank (DAB) has announced that it will auction $17 million on Wednesday as part of the efforts to stabilize the value of the Afghan currency against foreign currencies.

In a series of tweets on Monday, the Central Bank of Afghanistan asked qualified private banks and exchange companies to participate in the auction.

The winners of the auction are obliged to settle their accounts by the end of the day. As per the announcement, partial settlement of transactions is not allowed and the winners of the auction are obliged to transfer the payable amount to the central bank in cash within a certain time.

This is the second time in a week the central bank is auctioning US dollars to keep the value of Afghani stable.

The exchange rate was 90 AFN to the US dollar on Monday, February 6, 2023. The central bank sold $16 million on Sunday.

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Russia has no plans to close its embassy in Afghanistan, says envoy

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(Last Updated On: February 6, 2023)

Russia has no plans to close its diplomatic mission in Kabul, Director of the Russian Foreign Ministry’s Second Asian Department Zamir Kabulov told TASS on Monday.

Earlier, the Al-Arabiya TV channel reported that the authorities of several Arab and Western countries decided to close their diplomatic missions in Kabul because of security threats.

“Such thoughts have not even occurred,” Kabulov said, when asked whether Russia had such plans.

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