The Biden administration has moved $3.5 billion in frozen Afghan money to a dedicated fund for eventual transfer to Afghanistan if the country’s central bank can demonstrate independence from the Taliban.
The Biden administration plans to return billions in financial assets, frozen when the Taliban overran Afghanistan and ousted the central government, through a special “Afghan Fund” through Swiss financial organization, according to a joint statement from the U.S. Treasury Department and State Department. However, officials say that U.S. will not release funds any time soon because there is yet no institution in Afghanistan who can be trusted to distribute the money to its rightful recipients, CNN reported.
“We do not have that confidence today,” a senior US official told CNN.
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