The U.S. will put $3.5 billion in Afghanistan’s central bank reserves under the control of a Swiss-based oversight board to pay for limited financial services in the country while ensuring the Taliban regime doesn’t get access to the money, the U.S. Treasury Department said.
The funds, which the U.S. froze after the Taliban takeover of Afghanistan last year, will be held at the Bank for International Settlements and distributed with the consent of a four-member board — one from the U.S., one from Switzerland and two Afghans not associated with the Taliban.
The funding will support Afghanistan’s macroeconomic and financial stability, two senior Treasury officials told reporters on condition of anonymity.
