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BREAKING
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed

World Bank Approved Release of $280M in Aid to Afghanistan

  • By Al Mayadeen Net
  • Source: Agencies
  • 2 Dec 2021 09:34
2 Min Read

Sources report that the World Bank Board has approved the transfer of $280 million from a frozen Afghanistan trust fund to two relief agencies to aid the country.

  • x
  • The decision to redirect the funds of the Afghanistan Reconstruction Fund requires the approval of all donors
    The decision to redirect the funds of the Afghanistan Reconstruction Fund requires the approval of all donors

The World Bank's board of directors has approved the transfer of $280 million from a frozen trust fund to two assistance organizations to aid Afghanistan in dealing with a looming humanitarian disaster.

The 31 contributors to the World Bank-managed Afghanistan Reconstruction Trust Fund (ARTF) must authorize the transfer before monies can move to the World Food Program and UNICEF, two persons familiar with the matter said.

According to persons familiar with the initiative, the World Bank board met Tuesday to consider moving up to $500 million from the $1.5 billion in the ARTF to humanitarian aid organizations.

Three months after the Taliban seized power as the last US forces withdrew from a 20-year occupation, Afghanistan's 39 million people population face a collapsing economy, a winter of food shortages, and rising poverty.

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The aid would help, according to Afghan analysts, but there are still many questions, such as how to transfer funds into Afghanistan without exposing any financial institutions implicated in US sanctions.

While the US Treasury has issued "comfort letters" promising banks that humanitarian transactions can be processed, concerns about US sanctions continue to obstruct the passage of even essential commodities such as food and medication.

Any decision to redirect ARTF funds must be approved by all of the organization's donors, the largest of which is the US.

The White House and the fed did not respond to a request for comment on the World Bank board's approval of the cash being transferred to the World Food Programme and UNICEF.

A World Bank representative acknowledged that the subject had been considered by the bank's board of directors and that the donors would meet on Friday.

  • World Bank
  • World Food Programme
  • Afghanistan
  • Taliban
  • US
  • UNICEF

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