OIC’s Humanitarian Trust Fund for Afghanistan

On 19th December, 2021, at a meeting of Foreign Ministers from the Organization of Islamic Cooperation (OIC), it was decided to establish a Humanitarian Trust Fund for Afghanistan.

About the Fund

  • The fund will be set up under the Islamic Development Bank to channel aid to Afghanistan in coordination with other groups to address the growing economic crisis in Afghanistan.

Other Decisions by OIC

  • OIC has also decided to appoint a special envoy of the body to Afghanistan, besides forging a partnership between the OIC and the United Nations agencies to deliver resources to Afghanistan.
  • It did not provide official recognition to the Taliban government.
  • OIC reiterated its support to the peace process in Afghanistan to achieve peace, security and stability in Afghanistan.

Significance

  • Realistic pathways to unfreezing billions of dollars in frozen central bank reserves should be explored.
  • Allowing Afghanistan access to its financial resources would be pivotal to preventing economic collapse.

Organization of Islamic Cooperation

  • Headquartered in Jeddah, Saudi Arabia, it was established upon a decision of the historical summit which took place in Rabat, Kingdom of Morocco, on 25th September, 1969.
  • OIC is the second largest intergovernmental organisation after the United Nations with a membership of 57 states spread over four continents.
  • It is the collective voice of the Muslim world.
It endeavours to safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony among various people of the world.

Related Content