The Valley Spectrum
  • Login
  • Top Stories
  • J&K
  • National
  • International
  • Business
  • Health
  • Sports
  • More
    • Entertainment
    • Technology
No Result
View All Result
  • Top Stories
  • J&K
  • National
  • International
  • Business
  • Health
  • Sports
  • More
    • Entertainment
    • Technology
No Result
View All Result
The Valley Spectrum
No Result
View All Result

World Bank backs $280 million frozen aid funds for Afghanistan ,reports

by VS Desk
December 3, 2021
in Business
0
World Bank backs $280 million frozen aid funds for Afghanistan ,reports
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

World Bank Backs $280 Million Frozen Aid Funds For Afghanistan: ReportNew Delhi: The World Bank’s board has endorsed transferring $280 million from a frozen trust fund to two aid agencies to help Afghanistan cope with a brewing humanitarian crisis after the U.S. 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 Program and UNICEF, the sources said, saying the donors were expected to meet on Friday.

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.A

fghanistan’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 U.S. troops withdrew from 20 years of war.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 U.S. sanctions.While the U.S. Treasury has provided “comfort letters” assuring banks that they can process humanitarian transactions, concern about U.S. 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 Program and UNICEF.

VS Desk

VS Desk

Next Post
US President Joe Biden unveils stricter COVID19

Negative Covid Test 1 day before travel: tough US rules from next week

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Indian Rupee jumps 29 paise to close at 74.42 against US dollar

Indian Rupee jumps 29 paise to close at 74.42 against US dollar

3 years ago
Sensex surges 533 points, Nifty settles above 18,200 to end near 3-month high

Sensex surges 533 points, Nifty settles above 18,200 to end near 3-month high

3 years ago

Popular News

Plugin Install : Popular Post Widget need JNews - View Counter to be installed

Connect with us

  • About
  • Advertise
  • Careers
  • Contact
Call us: +1 234 JEG THEME

Copyright © 2021 The Valley Spectrum. The Valley Spectrum not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • J&K
  • National
  • International
  • Business
  • Health
  • Sports
  • More
    • Entertainment
    • Technology

Copyright © 2021 The Valley Spectrum. The Valley Spectrum not responsible for the content of external sites.