ANL 13.80 Decreased By ▼ -0.14 (-1%)
ASC 14.56 Increased By ▲ 0.86 (6.28%)
ASL 15.30 Increased By ▲ 0.04 (0.26%)
AVN 99.89 Increased By ▲ 0.29 (0.29%)
BOP 8.60 Decreased By ▼ -0.06 (-0.69%)
CNERGY 7.01 Decreased By ▼ -0.01 (-0.14%)
FFL 9.49 Increased By ▲ 0.10 (1.06%)
FNEL 9.39 Increased By ▲ 0.20 (2.18%)
GGGL 14.90 No Change ▼ 0.00 (0%)
GGL 22.12 Decreased By ▼ -0.47 (-2.08%)
GTECH 9.97 Decreased By ▼ -0.18 (-1.77%)
HUMNL 6.66 Decreased By ▼ -0.02 (-0.3%)
KEL 3.26 Decreased By ▼ -0.02 (-0.61%)
KOSM 4.38 Increased By ▲ 0.04 (0.92%)
MLCF 34.04 Increased By ▲ 0.14 (0.41%)
PACE 4.35 Increased By ▲ 0.02 (0.46%)
PIBTL 7.40 Decreased By ▼ -0.04 (-0.54%)
PRL 14.90 Increased By ▲ 0.14 (0.95%)
PTC 9.10 Decreased By ▼ -0.09 (-0.98%)
SILK 1.41 Decreased By ▼ -0.04 (-2.76%)
SNGP 34.50 Increased By ▲ 0.21 (0.61%)
TELE 17.75 Increased By ▲ 0.07 (0.4%)
TPL 15.35 Decreased By ▼ -0.24 (-1.54%)
TPLP 29.90 Increased By ▲ 0.15 (0.5%)
TREET 41.01 Increased By ▲ 0.21 (0.51%)
TRG 94.35 Decreased By ▼ -2.45 (-2.53%)
UNITY 28.20 Decreased By ▼ -0.49 (-1.71%)
WAVES 15.53 Decreased By ▼ -0.12 (-0.77%)
WTL 2.35 Decreased By ▼ -0.04 (-1.67%)
YOUW 8.22 Increased By ▲ 0.26 (3.27%)
BR100 4,678 Decreased By -8.6 (-0.18%)
BR30 18,623 Decreased By -17.3 (-0.09%)
KSE100 45,507 Decreased By -104.8 (-0.23%)
KSE30 17,926 Decreased By -16.4 (-0.09%)

coronavirus
Coronavirus
VERY HIGH
Source: covid.gov.pk
Pakistan Deaths
29,029
1024hr
Pakistan Cases
1,333,521
5,03424hr
Sindh
505,930
Punjab
454,372
Balochistan
33,729
Islamabad
111,855
KPK
182,419

WASHINGTON: The World Bank's board has backed transferring $280 million from a frozen trust fund to two aid agencies to help Afghanistan cope with a brewing humanitarian crisis after the US withdrawal, two sources familiar with the matter said on Wednesday.

The 31 donors to the World Bank-administered Afghanistan Reconstruction Trust Fund (ARTF) must approve the transfer before the funds could flow to the World Food Programme and UNICEF, the sources said. The donors were expected to meet on Friday, the sources said.

The World Bank board met informally on Tuesday to discuss transferring up to $500 million of the $1.5 billion in the ARTF to humanitarian aid agencies, people familiar with the plan previously told Reuters.

Afghanistan's 39 million people face a cratering economy, a winter of food shortages and growing poverty three months after the Taliban seized power as the last US troops withdrew from 20 years of war.

Afghan acting FM asks US to lift ban on central bank reserves

Afghan experts have said the aid would help, but big questions remain, including how to get funds into Afghanistan without exposing any financial institutions involved to US sanctions.

While the US Treasury has provided "comfort letters" assuring banks that they can process humanitarian transactions, concern about US sanctions continues to prevent passage of even basic supplies, including food and medicine.

Any decision to redirect ARTF money requires the approval of all its donors, of which the United States has been the largest.

The White House and the Treasury had no immediate comment on the World Bank board's endorsement of transferring the funds to the World Food Programme and UNICEF.

US tells Taliban to 'earn' the release of frozen funds

A World Bank spokesperson confirmed the bank's board had discussed the issue and that the donors were to meet on Friday.

The board "discussed an approach to transfer out funds from the ... ARTF to humanitarian aid agencies with presence and logistics on the ground to enable basic humanitarian support directly to the people in the country," the spokesperson said. "The ARTF Donors' Steering Committee is scheduled to meet on Dec. 3 to consider transfers out from the fund."

Comments

Comments are closed.