{"id":219662,"date":"2022-02-19T16:00:30","date_gmt":"2022-02-19T16:00:30","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=219662"},"modified":"2022-02-19T14:24:53","modified_gmt":"2022-02-19T14:24:53","slug":"afghanistan-trust-fund","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/afghanistan-trust-fund\/","title":{"rendered":"World Bank unfreezes $1 billion of Afghanistan trust fund"},"content":{"rendered":"<p style=\"text-align: justify\"><b>Kabul<\/b><strong>, (Business News Report)|| <\/strong>The World Bank has agreed to release $1 billion from a frozen Afghanistan trust fund for education, agriculture, health, and family programs.<\/p>\n<p style=\"text-align: justify\">The World Bank said the funds are a significant boost to efforts to mitigate the worsening humanitarian and economic crises in the country.<\/p>\n<p style=\"text-align: justify\">The money will be disbursed away from the official authorities of the Taliban, due to the sanctions that are still imposed on the Afghan movement.<\/p>\n<p style=\"text-align: justify\">Funds in the Afghanistan Reconstruction Trust Fund administered by the World Bank will be disbursed through United Nations agencies.<\/p>\n<p style=\"text-align: justify\">Sources familiar with the plan said that the World Bank&#8217;s board of directors is scheduled to discuss it on March 1, after which the fund&#8217;s shareholders must agree to release any funds.<\/p>\n<p style=\"text-align: justify\">The move follows the successful disbursement of $280 million from the same trust fund to the World Food Program and the United Nations Children&#8217;s Fund (<a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjMwuHl-4v2AhXj8rsIHe4qAvMQFnoECAQQAQ&amp;url=https%3A%2F%2Fwww.unicef.org%2F&amp;usg=AOvVaw1O2uknYQB73GM2vRXK9mri\">UNICEF<\/a>) to support nutrition and health in Afghanistan over the past few months.<\/p>\n<p style=\"text-align: justify\">The Afghanistan Reconstruction Trust Fund is a multi-donor trust fund that coordinates international assistance to improve the lives of millions of Afghans.<\/p>\n<p style=\"text-align: justify\">The World Bank also administers this fund on behalf of donors, which to date numbered 34, according to its website.<\/p>\n<p style=\"text-align: justify\">A few days ago, US President Joe Biden signed an executive order allowing the United States to dispose of $7 billion in funds from the Afghan Central Bank.<\/p>\n<p style=\"text-align: justify\">According to a statement issued by the White House, allowing the United States to dispose of these funds affects Afghanistan&#8217;s money deposited with American financial institutions.<\/p>\n<p style=\"text-align: justify\">The total reserves of the Central Bank of Afghanistan at the end of last April amounted to $9.4 billion, according to the International Monetary Fund.<\/p>\n<p style=\"text-align: justify\">This amount, which was deposited before the Taliban returned to power last August, is kept abroad, and the bulk of it is in the United States.<\/p>\n<p style=\"text-align: justify\">Meanwhile, the Taliban is increasing exports to save the Afghan economy from collapse, amid fears that the country will slide into more poverty and hunger.<\/p>\n<p style=\"text-align: justify\">Sher Mohammad Abbas Stanikzai, deputy foreign minister of the Taliban government, told a gathering in Kabul that humanitarian aid will not solve Afghanistan&#8217;s economic problems, and the only way to achieve economic self-sufficiency is to boost the export of local products abroad.<\/p>\n<p style=\"text-align: justify\">The country also imported most of the basic commodities in 2020, and the value of total imports amounted to about $9 billion. In contrast, the value of the main exports of agricultural products such as pine nuts and dried fruits being exported to China, Pakistan and Iran amounted to just over $800 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kabul, (Business News Report)|| The World Bank has agreed to release $1 billion from a frozen Afghanistan trust fund for education, agriculture, health, and family programs. The World Bank said the funds are a significant boost to efforts to mitigate the worsening humanitarian and economic crises in the country. The money will be disbursed away [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":219671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2081],"tags":[6967,278],"class_list":["post-219662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2081","tag-afghanistan","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>World Bank unfreezes $1 billion of Afghanistan trust fund<\/title>\n<meta name=\"description\" content=\"BNReport| World Bank has agreed to release $1 billion from a frozen Afghanistan trust fund for education, agriculture, health...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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