UN creates fund for Afghanistan amid cash shortage – Prensa Latina

Pajhwok News Agency reported that the goal is to inject cash into Afghan families so that they can survive this winter.

Achim Steiner, director of the United Nations Development Program (UNDP), said Germany had pledged to contribute 50 million euros ($58 million) to the fund, and was in contact with other donors to mobilize resources.

He said that the United Nations Development Program estimated the cost of the activities to be covered during the first 12 months at about $667 million.

Steiner, at a press conference in Geneva, warned of the need to intervene and stabilize a popular economy, in addition to saving lives.

Otherwise, we will face a scenario during the winter and into next year where millions of Afghans cannot stay in their lands, homes and villages and survive. It is not difficult to understand the implications.

The International Monetary Fund announced on Tuesday that the Afghan economy will shrink by up to 30 percent this year, likely to further fuel the refugee crisis that will affect neighboring Turkey and Europe.

In the wake of the Taliban’s takeover, billions of Central Bank of Afghanistan’s assets abroad were frozen and their access to funds from international financial institutions was suspended, although humanitarian aid continued.

Banks in the Central Asian country are running out of money, officials are not charging fees, and food prices have skyrocketed.

jha / abm

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