World Bank to provide about $2 billion in aid to Pakistan
The World Bank will provide about $2 billion in aid to Pakistan for reconstruction and rehabilitation, including food, shelter, and other urgent needs of the victims of the most recent devastating floods.
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“As immediate response, we are repurposing funds from existing World Bank-financed projects to support urgent needs in health, food, shelter, rehabilitation, and cash transfers. In addition to this, we are working with the federal and provincial authorities to prepare emergency operations to quickly start the reconstruction and rehabilitation to rebuild or repair infrastructure, housing and restore livelihoods, and to help strengthen Pakistan’s resilience to climate-related risks. We are envisaging financing of about USD 2 billion to that effect,” the World Bank’s new Vice President for the South Asia Region, Martin Raiser, said.
Raiser highlighted that Pakistan is among the world’s top ten countries most affected by climate change.
He also encouraged the government to continue to focus on the successful implementation of ongoing investments in areas such as girls’ and boys’ learning, health, reduced stunting, social protection, energy transition, and climate resilience to lay the foundation for a sustained recovery from this year’s flood disaster.
I visited Dadu today &saw firsthand the impact of floods due to unprecedented rains. People have been displaced from their homes with devastating damage to houses, cropland, livestock, roads &bridges. World Bank will support #Pakistan rebuild in a resilient way. #BuildBackBetter pic.twitter.com/jyduVba20b
Since June 14, floods in Pakistan have killed 1,569 people. The floods were caused by heavier than usual monsoon rains and melting glaciers that followed a severe heat wave, all of which are linked to climate change. It is the world's deadliest flood since the 2017 South Asian floods and described as the worst in the country's history.
On 25 August, Pakistan declared a state of emergency because of the flooding. By 29 August, Pakistan's minister of climate change said around "one-third" of the country was under water, affecting 33 million people.
The government of Pakistan has estimated losses worth US$40 billion from the flooding. (ILKHA)
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