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US President Joe Biden has signed an executive order to unlock about $ 7 billion of Afghan reserves, which were frozen after the Taliban took control of the state last August.
The U.S. will create a fund in the coming months that will administer half of the $ 7 billion, White House officials said.
The remaining $ 3.5 billion will remain in the U.S. and will be used to fund reparations for U.S. victims of terrorism, including claims to the Taliban by the families of victims of the September 11, 2001, U.S. attacks.
Biden’s executive order states “the great humanitarian crisis in Afghanistan – including the urgent need for food security for the people of Afghanistan, life support, water, health, hygiene, housing and settlement support, COVID-related support – 19 and other basic human needs.
Biden said the reserves of the Central Bank of Afghanistan, held in US financial institutions, would be used to “address the national emergency and the well-being of the people of Afghanistan.”
Biden’s order requires that the funds of the Afghan Central Bank be transferred to a New York Federal Reserve account. U.S. officials say most of the frozen Afghan assets in the U.S. will be used for aid.
The White House has faced pressure to unlock funds to help Afghans, who are facing an economic and financial crisis that is threatening more than half of the population with hunger.
This week, Taliban officials are holding talks in Geneva with international organizations to seek access to humanitarian aid, which has been banned, as the de facto government in Kabul has not been recognized by any government in the world, due to human rights concerns and human freedoms.
Afghanistan has over $ 9 billion in reserves, including over $ 7 billion in reserves held in the US. The rest of the reserves are located in Germany, the United Arab Emirates, Switzerland and Qatar.
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