U.S. to transfer $3.5 billion in Afghan central bank assets to Swiss-based trust

The United States will transfer $3.5 billion in Afghan central bank assets to a new trust fund. The money will be shielded from the Taliban and used to stabilize Afghanistan’s collapsed economy. The trust fund could pay for critical imports like electricity and cover international debt payments.

Nearly half of Afghanistan’s 40 million people face “acute hunger,” according to the United Nations. The trust fund comes after months of talks between U.S., Switzerland, other parties and the Taliban.

The Taliban demanded the return of $7 billion in Afghan central bank assets held in the United States. Another $3.5 billion is being contested in lawsuits against the Taliban stemming from 9/11. That money could be deposited in the new trust fund.