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US State Department on Tuesday (local time) explained an executive order passed by President Joe Biden last week, relating to the people of Afghanistan, which was a step toward making USD 3.5 billion of funds accessible to the Afghan people.On Friday, Biden signed an executive order to free 7 billion US dollars out of more than 9 billion frozen Afghan assets, splitting the money between humanitarian aid for Afghanistan and a fund for 9/11 victims."People of Afghanistan are facing numerous challenges including dependence on economic aid, severe droughts, COVID-19, internal corruptions and others. Afghan Central Bank reserves hold that federal reserves have been inaccessible for months imparts because of the uncertainty regarding who can authorise transactions on the account. But also due to pending litigations by 9/11 victims and other victims of terrorism," US State Department spokesperson New Price said.Lauding the Biden administration, the US spokesperson said: "This administration will continue to support that victim and families recognising the enduring pain they have suffered in the hand of terrorists including those who were operating from Afghanistan prior to the September 11 attacks.""We have no idea how long the allegation will take and in the meantime, the humanitarian and economic situation in Afghanistan continues to deteriorate by the debt. That is why President Biden signed the Executive Order on Friday to preserve and protect those reserves as part of an effort to make 3.5 billion dollars available for the Afghan people," he explained.He added that the objective is to make these funds available for the Afghan people without having to wait for the process to conclude."No decision has been made about how this fund will alternately be used for the benefits of Afghan people. Many of them are also victims of terrorism. Whatever mechanism is established it will be designed to minimise the rest of the funds ending up in the hands of the Taliban or other sanctions on individuals. It is alternatively up to the courts to determine whether the remaining of these funds should get the victim of terrorism, who hold judgement against the Taliban," he added.Ned Price also reiterate Friday's executive order and said that "it was a step towards making a significant portion 3.5 billion dollars accessible to the Afghan people. This action demonstrates that America's ties to the people of Afghanistan, built working side-by-side, are steadfast & enduring.Afghanistan's banking system remains crippled after the takeover of Kabul by the Taliban in mid-August last year.A combination of a suspension of foreign aid, the freezing of Afghan government assets, and international sanctions on the Taliban have plunged the country, already suffering from high poverty levels, into a full-blown economic crisis.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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US State Department on Tuesday (local time) explained an executive order passed by President Joe Biden last week, relating to the people of Afghanistan, which was a step toward making USD 3.5 billion of funds accessible to the Afghan people. ...