ProPropertyNewsAIIB Approves $500Mn for Flood-Affectees in Pakistan

AIIB Approves $500Mn for Flood-Affectees in Pakistan

ISLAMABAD: The Asian Infrastructure Investment Bank has approved a loan of $500 million for the rehabilitation of flood-affected areas in Pakistan.

The details were shared by Pakistan’s Finance Minister Ishaq Dar.

The loan has been approved for Building Resilience with Active Countercyclical Expenditure Program.

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It was also shared that the State Bank of Pakistan will receive the funds by November.

It is important to note that the funds will support the reconstruction of the damaged infrastructure, employment, and food shortages due to floods and other such disasters.

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