Asia International

Indonesian police arrest 24 people related to terror financing

Jakarta [Indonesia]: The Indonesian National Police announced Thursday that its counter-terrorism squad dubbed “Densus 88” had arrested a total of 24 people related to fundraising for the Jemaah Islamiyah (JI) terrorist group.“Of the 24 people, 14 are from Baitul Maal Abdurrahman bin Auf (an alms collecting foundation) and 10 are from Syam Organizer (a fund raising foundation),” head of Densus 88’s operation assistance unit, Senior Commissioner Aswin Siregar, said. Based on the financial reports of the foundations, Baitul Maal Abdurrahman bin Auf with tens of thousands of charity boxes spread across Indonesia collects around 15 billion rupiahs (about 1.05 million U.S. dollars) per year, while the Syam Organizer earns around 14 billion rupiahs (about 0.98 million U.S. dollars).When searching for the Syam Organizer office some time ago, officers confiscated around 944 million rupiahs (about 70,000 U.S. dollars) in cash.JI was a Southeast Asian militant…

South Asian Countries

Pakistan in deep economic crisis, needs USD 51.6 billion external financing

Islamabad [Pakistan] : Pakistan is in the throes of a deep economic crisis with the country requiring gross external financing of USD 51.6 billion within a two-year period (2021-2023) in order to fulfill its needs.Despite placing very conservative estimates assessed by the IMF, Pakistan’s gross external financing requirement stands at USD 23.6 billion in 2021-22 and USD 28 billion in 2022-23, reported The News International. The Pakistani authorities are making last-ditch efforts to strike a staff-level agreement with the International Monetary Fund (IMF) to bridge the gap of external financing requirements.Without striking a deal with the IMF under the existing USD 6 billion Extended Fund Facility (EFF) during the ongoing parleys in Washington, this massive gross external financing requirement will be at risk in the wake of the suspension of program loans from other multilateral creditors such as the World Bank (WB) and Asian…

International World Updates

World Bank Expands Its Covid-19 Vaccine Financing To $20 Billion

The World Bank has added $8 billion more for Covid-19 vaccines, totalling $20 billion, for developing countries. Earlier it had announced $12 billion. The funding will be available through 2022, it said in a statement on Wednesday. “In view of the surging demand for World Bank vaccine finance, I am pleased to announce today that the World Bank is expanding its financing available for Covid-19 vaccine financing to $20 billion over the next 18 months, adding $8 billion to the previously announced $12 billion,” said World Bank Group President David Malpass, in the statement. Malpass also called on countries with surplus doses to release it for use by developing countries, and for vaccine manufacturers to prioritise the available doses for the developing countries that so urgently need them. On Wednesday, the bank’s private financing arm the International Finance Corporation secured a 600 million euro…