![]() ![]() "The facility's flow of funds would not require the movement of funds across the Afghan border," the U.N. In exchange, the United Nations would use aid dollars - potentially tens of millions - to pay the businesses' foreign creditors, thereby bolstering the flagging private sector and critical imports. The HEF would allow the United Nations - which is seeking $4.4 billion for humanitarian assistance this year - and aid groups access to large amounts of the national currency, the afghani, held in the country by private businesses. The reserves held by the United States are tied up in legal action and Western governments are reluctant to release funds unless they see the Taliban show greater respect for human rights, especially those of women and girls. ![]() and humanitarian officials warn that the facility can be only a temporary measure until Afghanistan's central bank begins operating independently and some $9 billion in foreign reserves frozen abroad are released.īut when that could happen is uncertain. "Prior to the full establishment of the facility, we seek to facilitate several trial swaps, to demonstrate exactly how the mechanism will work." "The overall objective is to have the HEF up and running in February," the note said. The United Nations has warned that more than half of Afghanistan's 39 million people are suffering extreme hunger and the economy, education and social services are collapsing. explanatory note, written last month, outlines an "urgently needed" Humanitarian Exchange Facility (HEF). sanctions on the hardline Islamist group, leaving the United Nations and aid groups struggling to obtain cash even as they continue to receive humanitarian donations. Since the Taliban takeover in August, foreign financial assistance has stopped and international banks are wary of testing U.N. WASHINGTON, Feb 10 (Reuters) - The United Nations aims to kickstart this month a system to swap millions of aid dollars for Afghan currency in a plan to stem humanitarian and economic crises and bypass blacklisted Taliban leaders, according to an internal U.N. ![]()
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