Afghan people’s fund accumulated $155m: Mehrabi

KABUL (Agencies): Shah Mohammad Mehrabi, Central Bank supreme council member and board member of the Afghan Trust Fund in Switzerland, said that the Afghan people’s fund has experienced substantial growth, with accumulated revenue totaling $155 million.
In a video clip to TOLOnews, Mehrabi said:
“This significant advancement underscores the steadfast commitment of the fund to its fundamental mission, safeguarding, preserving and allocating its $3.5 billion in assets to support foreign exchange rate and price stabilization objectives in Afghanistan.”
According to him, the initiative ultimately serves to enhance the well-being of the Afghan people.
Mehrabi also emphasized that the fund is tailored for economic purposes and that it is not ear-marked for humanitarian initiatives.
Meanwhile, economists said that the revenue of the Afghan Trust Fund should be used for the stabilization of the afghani and the economic improvement of Afghanistan.
“This money should be invested in power improvement and the banking sector,” said Mohammad Nabi Afghan, an economist.
Some of the frozen Central Bank reserves were transferred from Washington into the “Fund for the Afghan People” last year where US officials said it will be shielded from the Islamic Emirate, according to Reuters.