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US explains purpose of new $3.5 billion Afghan Fund
The US State Department has officially announced the establishment of the international financing mechanism which will see $3.5 billion worth of Afghanistan’s frozen assets being used for the benefit of the people.
In a press briefing on Wednesday night, State Department spokesman Ned Price said: “Today, the Department of State and the Department of the Treasury, in coordination with international partners including the Government of Switzerland and Afghan economic experts, announced the establishment of a fund to benefit the people of Afghanistan.”
Price stated the US would like to thank the Swiss Government for its partnership to ensure this effort would be possible.
“This fund will protect and preserve the Afghan central bank reserves, while making targeted disbursements to help stabilize Afghanistan’s economy and, ultimately, support its people and work to alleviate the worst effects of the humanitarian crisis,” he said.
He stated the Islamic Emirate of Afghanistan (IEA) is “not a part of this financing mechanism and resources disbursed will be for the benefit of the Afghan people, with clear safeguards and auditing in place to protect against diversion or misuse.”
“And the US has made clear to the Taliban (IEA) that the onus is on them to make key reforms which we have outlined repeatedly,” he added.
Elaborating on when the funds will be disbursed, he said it “will take a little bit of time. We’re, of course, working as quickly as we can to do that.”
He stated however that the Afghan Fund is “explicitly not intended to make humanitarian disbursements. The Afghan Fund itself is to facilitate macroeconomic stability inside Afghanistan.”
Price said this meant the US will remain the largest humanitarian donor for the Afghan people.
“This is not what that fund is for. This fund is to provide macroeconomic stability in Afghanistan that will enhance the effectiveness of humanitarian assistance from the United States and other donors.”
On the remaining $3.5 billion of Afghanistan’s $7 billion frozen by the US, Price said this money “remains subject to litigation” and did not form part of the new fund.
The new fund does however have a vetted list of sources for disbursement, he said adding that possible scenarios could include using the fund to pay for electricity for example.
Price said “that is something that could – we could envision the fund doing. To pay arrears at international financial institutions, the types of activities that are separate and apart from the day-to-day welfare that our humanitarian assistance and the humanitarian assistance of the international community is designed for.”
Abdul Rahman Munir, the Deputy Minister for Counter-Narcotics at the Ministry of Interior, said on Saturday at the meeting of the Central Asian Regional Information and Coordination Centre for Combating Drugs (CARICC) in Uzbekistan that the cultivation, trafficking, and sale of narcotics in Afghanistan have “almost dropped to zero.”
Abdul Mateen Qani, spokesperson for the Ministry of Interior, said in a statement that Munir described the Islamic Emirate’s ongoing counter-narcotics campaign in Afghanistan as “a milestone of achievements.”
At the meeting, Munir emphasized cooperation among member countries and called on them to assist Afghan farmers in creating alternative livelihood opportunities so that the phenomenon of narcotics can be completely eradicated from Afghanistan.
Australia on Saturday announced financial sanctions and travel bans on four senior officials of the Islamic Emirate of Afghanistan (IEA), citing what it described as a worsening human rights situation in the country, particularly for women and girls.
Foreign Minister Penny Wong said the targeted officials were involved “in the oppression of women and girls and in undermining good governance or the rule of law.”
Australia had been part of the NATO-led international mission in Afghanistan before withdrawing its troops in August 2021.
Wong said the sanctions target three IEA ministers and the IEA’s chief justice, accusing them of restricting women’s and girls’ access to education, employment, freedom of movement, and participation in public life.
The officials include Mohammad Khalid Hanafi, Minister for the Propagation of Virtue and the Prevention of Vice; Neda Mohammad Nadeem, Minister of Higher Education; Abdul Hakim Sharei, Minister of Justice; and Chief Justice Abdul Hakim Haqqani.
According to Wong, the measures fall under Australia’s new sanctions framework, which allows Canberra to “directly impose its own sanctions and travel bans to increase pressure on the Taliban (IEA), targeting the oppression of the Afghan people.”
Responding to the announcement, Saif-ul-Islam Khaibar, spokesperson for the Ministry for the Propagation of Virtue and the Prevention of Vice, criticized the sanctions.
He claimed that countries imposing such measures “are themselves violators of women’s rights” and called Australia’s move an insult to the religious and cultural values of Afghans.
Khaibar added that the IEA has “stopped rights violations of hundreds of thousands of women over the past four years.”
During Russian President Vladimir Putin’s visit to New Delhi, India and Russia issued a joint statement highlighting their close coordination on Afghanistan. Both sides appreciated the ongoing dialogue between their respective Security Councils and underscored the significance of the Moscow Format meetings in promoting regional stability.
The leaders welcomed counter-terrorism efforts targeting international terrorist groups, including ISIS, ISKP, and their affiliates, expressing confidence in a comprehensive and effective approach to combating terrorism in Afghanistan. They also stressed the urgent need to ensure uninterrupted humanitarian assistance to the Afghan people.
India and Russia have maintained close ties on regional security, particularly concerning developments in Afghanistan following the Islamic Emirate’s return to power in 2021. The Moscow Format, a diplomatic platform including Afghanistan’s neighbors, has played a key role in facilitating dialogue on peace, stability, and counter-terrorism in the region.
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