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US Seeks to Sidestep Taliban in $3.5 Billion Afghan Aid Plan

  • Treasury to put frozen funds under Swiss-based oversight board
  • Money is aimed to support macroeconomic, financial stability
A Taliban fighter in Kabul.

A Taliban fighter in Kabul.

Photographer: Ahmed Sahel Arman/AFP/Getty Images

Updated on

The US 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 US Treasury Department said.

The funds, which the US 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 US, one from Switzerland and two Afghans not associated with the Taliban.