Connect with us

Business

West says Afghanistan to get new bank notes, maps out Afghan Fund

Published

on

Thomas West, US Special Representative for Afghanistan, said Friday that new printed bank notes would soon enter the market in the country, replacing AFN notes that are disintegrating.

Addressing a virtual townhall organized by a US-based Afghan diaspora group, Afghans for a Better Tomorrow, West said: “We all know the banking sector in Afghanistan is cut off from the international financial system, by and large, with the exception of one private bank.

“But there are some transactions that the ministry of finance technocrats and the central bank technocrats want to responsibly move forward with and are unable to do so unless the United States and a number of other countries in a corresponding banking chain really lean in and help to conclude.

“So I am very pleased to say that in the past 24 hours we have finally seen the conclusion of two currency transactions.

“This will mean that new printed Afghani will replace bank notes that … are virtually disintegrating in the system,” he said.

He said he did not know when exactly the new bank notes would “show up in Afghanistan” but added the US would continue to support “priority transactions”.

Discussing the new Afghan Fund, which relates to the transfer of at least $3.5 billion of Afghanistan’s frozen foreign reserves, West said the first board of trustees meeting is likely to take place next month in Switzerland.

He said the basic governance structure is now in place but that this “will evolve”. He noted that four trustees would be the ones making big decisions on the disbursement of funds.

Both the US and the Swiss government will have a representative and the other two trustees are former finance minister Dr Anwar ul-Haq Ahadi and US college professor Dr Shah Mirabi – both of whom live in the United States.

West said Mirabi has served in an advisory capacity to Da Afghanistan Bank (DAB) over the past 20 years, while Ahadi had also held the position of central bank governor and was a former commerce minister.

“These are two people we feel are exceedingly well qualified to help make responsible decisions about very limited disbursements of this money to enhance macroeconomic stability in Afghanistan,” West said.

However, there will be an additional advisory body, also made up of Afghans, who will be able to initiate their own ideas about how this money should be protected, preserved, and spent “in limited quantities”, he said.

West went on to say the majority of the $3.5 billion will remain “untouched”.

“It will be preserved for a future recapitalization of the Central Bank and of the financial system in Afghanistan.”

Business

Afghanistan, Turkmenistan agree to establish joint road transport commission

The sides also agreed to establish a joint commission to address road transport issues and improve coordination.

Published

on

Afghanistan and Turkmenistan have agreed to establish a joint commission on road transport and facilitate transit between the two countries following two days of talks in Herat.

Afghanistan’s Ministry of Transport and Civil Aviation said the meeting brought together technical delegations from both countries to strengthen bilateral transport and transit cooperation.

The talks focused on easing visa procedures for Afghan and Turkmen drivers and traders, operationalising the Lapis Lazuli transit corridor and increasing the movement of transit vehicles between the two countries.

The sides also agreed to establish a joint commission to address road transport issues and improve coordination.

Representatives from Afghanistan’s ministries of foreign affairs, industry and commerce and the railway authority attended the talks, alongside the Ministry of Transport and Civil Aviation. Railway links, bilateral trade and wider transit cooperation were also discussed, with private-sector representatives expected to participate in future discussions.

The agreement comes as Turkmenistan works to strengthen its role as a regional transport and logistics hub, using its road, rail and Caspian Sea infrastructure to connect Central Asia with markets to the west and south.

A key part of that network is the International Seaport of Turkmenbashi, which links Turkmenistan with Azerbaijan and onward routes towards the South Caucasus and Europe.

Turkmenistan’s transport infrastructure also forms part of the wider Middle Corridor, or Trans-Caspian International Transport Route, connecting China and Central Asia with Azerbaijan, Georgia and Türkiye before reaching European markets.

For Afghanistan, the Lapis Lazuli Corridor is particularly important. It connects Afghanistan through Turkmenistan and across the Caspian Sea to Azerbaijan, Georgia and Türkiye, providing a potential route towards European markets.

Rail links such as the Herat-Torghundi line could further connect Afghanistan’s markets with Turkmenistan’s wider transport network.

The latest agreement puts road transport and transit facilitation at the centre of efforts by the two neighbours to expand trade and strengthen regional connectivity.

Continue Reading

Business

TAPI gas deliveries to Afghanistan and Pakistan expected to begin in 2027

Turkmenistan regards TAPI as a key project for diversifying its gas exports and strengthening regional economic cooperation.

Published

on

Turkmenistan expects natural gas supplies to Afghanistan and Pakistan through the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline to begin in 2027, according to the Turkmen Embassy in Islamabad.

Turkmen Ambassador Atajan Movlamov said construction of the strategically important Serhetabat-Herat section of the pipeline is expected to be completed by the end of this year.

Movlamov made the remarks during an Ambassadors’ Dinner hosted by the Lahore Chamber of Commerce and Industry in Islamabad.

He said the implementation of TAPI and other regional energy projects could strengthen Pakistan’s energy security while creating new opportunities for industrial development and economic growth.

The planned 1,800-kilometre pipeline is designed to transport up to 33 billion cubic metres of natural gas annually from Turkmenistan’s giant Galkynysh gas field through Afghanistan to Pakistan and India.

Turkmenistan regards TAPI as a key project for diversifying its gas exports and strengthening regional economic cooperation.

The Galkynysh field, which is the main resource base for TAPI, is among the world’s largest gas fields, with estimated reserves of more than 27 trillion cubic metres.

The project has faced years of delays, but recent construction and developments in the regional energy sector have renewed attention to TAPI as a potential link between Central Asian gas resources and South Asian energy markets.

Continue Reading

Business

Dogharoun handles 60% of Iran’s exports to Afghanistan

Modoudi invited machinery manufacturing companies in Iran to establish operations in the area.

Published

on

Mohammadreza Modoudi, CEO of the Dogharoon Free Zone, has criticized what he described as the neglect of Dogharoun’s potential, saying Iran ranks first among all countries in terms of exports of goods to Afghanistan.

He said 60 percent of this large volume of exports passes through the Dogharoun border crossing, adding that, despite this, the region’s significant potential has been overlooked.

Modoudi invited machinery manufacturing companies in Iran to establish operations in the area.

He said it is time to take a realistic approach and transform Dogharoun from a transit route into a major hub for production, value-chain development and a driving force for international trade.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2026 Ariana News. All rights reserved!