The international community has started sending in aid to Pakistan to support the country as it fights one of the worst natural disasters it has faced in decades. The initial amount committed is to the tune of $500 million from various bilateral and multilateral donors.
Out of this, World Bank (WB) has announced an immediate provision of $350 million for the flood victims in the wake of devastating flash floods across Pakistan.
In this regard, WB officials, while talking to Propakistani, said that the Bank is currently focused on providing funding for immediate relief for the populations affected by the floods, and supporting the reconstruction efforts as needs are expected to be very large. The officials added that the Bank is working closely with both federal and provincial authorities, and is also striving to accelerate the implementation and disbursement of our existing portfolio.
Furthermore, the officials highlighted that the expected flows of funding will depend on the progress of implementation of these projects (including ongoing repurposing efforts requested by authorities to cater to the immediate needs generated by the floods) as well as progress on structural reforms that World Bank is supporting in the fiscal and power sector areas in particular.
Asian Development Bank (ADB) is also considering providing financial assistance to flood victims. This was revealed by ADB officials while addressing the event titled, “2022 Pakistan Floods Response Plan (FRP),” launched by the government of Pakistan and the United Nations (UN) simultaneously in Islamabad and Geneva. The officials stated that the ADB is currently working on a plan in this regard.
ADB officials further added that $2.3 billion will also be provided to Pakistan in the current financial year apart from flood-related assistance. These funds will be provided for various programs till June 30, 2023.
The World Food Organization and United Kingdom’s Development Agency have also pledged initial assistance for flood relief activities.
So far, the total aid announced by the financial institutions stood at $500 million.
In a separate development, China has announced an aid of ¥100 million for flood relief activities in Pakistan.
The first batch under the “China Emergency Humanitarian Assistance,” comprising 3,000 tents, has landed in Karachi.
Chinese Ambassador Nong Rong has informed the government of Pakistan that China would donate 25,000 tents and other relief items to flood victims.