U.S. sets up $3.5 billion fund to aid Afghanistan using frozen bank reserves

Amid growing concerns of a major humanitarian crisis in Afghanistan this coming winter, the U.S. State Department and Treasury Department have, along with international partners, set up a fund in Switzerland to disburse some of the $3.5 billion of Afghan central bank reserves that were frozen after the American military withdrawal and Taliban takeover one year ago.

The so-called Afghan Fund is an account at the Bank for International Settlements in Switzerland.

The targeted disbursements "are to help stabilize Afghanistan's economy and ultimately support its people in work to alleviate the worst effects of the humanitarian crisis," a State Department spokesperson told CBS News.