The Sindh government and World Bank (WB) have joined hands to launch a housing scheme for flood victims and rebuild the damaged infrastructure in the province.
In this regard, a meeting was held in Karachi between the Chief Minister (CM) of Sindh, Syed Murad Ali Shah, and WB’s delegation, which was led by its Country Director (CD), Najy Benhassine.
During the meeting, it was revealed that WB will grant a $500 million loan to the Sindh government for building houses in the flooded districts along with another $80 million to restore damaged arteries of the province.
Furthermore, CM Syed Murad Ali Shah addressed the meeting and said that his government intends to commence restoration work immediately. Besides, both parties will also collaboratively build an alternative for Jam Sadiq Bridge in Karachi for public convenience. In addition, WB will also fund solar system initiatives in the flood-affected regions of the province.
On the other hand, the monetary organization and the provincial government will offer Rs. 5,000 per acre subsidy on seeds and fertilizers for the Rabi crop, while the former will also provide a $40 million loan for the restoration of the health sector.