World Bank envisages $2 billion financing for Pakistan flood victims
ISLAMABAD: The World Bank on Saturday said it is “envisaging” $2 billion in funding for Pakistan to rehabilitate and restore lives after the devastating floods that hit the country since mid-June.
“We are deeply saddened by the loss of lives and livelihoods caused by the devastating floods and we are working with federal and provincial governments to provide immediate relief to those most affected,” Raiser was quoted as saying in a World Bank press release. are.” ,
“As an immediate response, we are reusing funds from existing World Bank-funded projects to support urgent needs in health, food, shelter, rehabilitation and cash transfers,” he said.
Raisar said the World Bank is working with Pakistan’s federal and provincial authorities to quickly begin infrastructure reconstruction and rehabilitation and rebuild people’s homes and restore their livelihoods.
He said Pakistan and the World Bank are also working to strengthen the country’s resilience to climate-induced disasters. “We are envisaging around $2 billion in funding to that effect,” Raiser said.
The World Bank official visited Pakistan’s southern Sindh province where he met Chief Minister Murad Ali Shah. Raisar visited Dadu district of the province to take stock of the damage and met the affected families at a relief camp there.
Heavy monsoon rains in Pakistan triggered flash floods since June 14, which destroyed large amounts of crops and caused severe damage to the country’s infrastructure.