OIC countries pledge fund to prevent Afghanistan economic collapse

OIC states pledge to set up a humanitarian fund for Afghanistan at OIC summit in Islamabad

The Organisation of Islamic Cooperation (OIC) has pledged to set up a humanitarian trust fund for Afghanistan as millions face hunger and poverty amid harsh winter.

The decision was taken at Sunday’s OIC summit in Islamabad to channel assistance to Afghanistan, Pakistani Foreign Minister Shah Mahmood Qureshi said. 

Pakistan on Sunday hosted the 17th Extraordinary Session of the OIC’s Council of Foreign Ministers, called by Saudi Arabia, at the Parliament House in Islamabad. The purpose of the summit was to rally the Islamic and other countries and international institutions to come in aid of Afghanistan.

“If the world doesn’t act, this will be the biggest man-made crisis which is unfolding in front of us,” warned Prime Minister Imran Khan at the summit.

Around 70 delegations from OIC member states, non-members and regional and international organizations attended the summit. Around 20 delegations were led by foreign ministers and 10 by deputies or ministers of state. The foreign ministers of Saudi Arabia, Tukey, Azerbaijan, Iran, Oman, Kuwait, Indonesia and Malaysia attended the session.

Humanitarian fund

OIC would set up the fund under the aegis of the Islamic Development Bank and called on OIC member states, Islamic financial institutions, donors and other international partners to announce pledges to the fund as well as provide humanitarian assistance to Afghanistan.

OIC special envoy for Afghanistan

OIC decided to appoint a special envoy on Afghanistan and the OIC and the United Nations had agreed to work together in Afghanistan. Ambassador Tariq Ali Bakheet will serve as the special envoy on Afghanistan to the OIC Secretary-General and would be supported by a secretariat and the OIC Office in Afghanistan to coordinate aid and assistance efforts.

Banking channels

The OIC together with the Islamic Development Bank and UN organizations will devise a mechanism “to unlock the financial and banking channels to resume liquidity” for Afghan people and prevent the collapse of the economy. FM Qureshi said unlocking financial and banking channels was essential “because the economy can’t function and people can’t be helped without a banking system”.

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