KARACHI: Chief Minister Sindh, Syed Murad Ali Shah, has claimed that approximately 1.8 million houses across the province have been destroyed by heavy rains and flash floods and that it would cost additional Rs. 1.5 trillion to rebuild them.
In a meeting with Asian Development Bank’s (ADB) Director General, Eugenue Zhukov, he stated that the World Bank had pledged Rs. 110 billion in loans against Rs. 1.5 trillion requirements for flood-affected houses.
He urged the Asian Development Bank’s (ADB) to make up the difference for reconstruction and requested that the ADB cover the Rs. 1.39 trillion shortfalls.
The visiting ADB official informed the CM that they had committed $475 million with the federal government, of which $300 million would be the provincial government’s share for the repair of damaged infrastructure.
Additionally, it was disclosed that the National Highway Authority (NHA) would receive $100 million of the $475 million total for the reconstruction of the Karachi–Hyderabad Motorway.
According to Eugenue, the ADB would fund a project to lessen the effects of climate change while the ADB and the Sindh Planning & Development department were already discussing the project, the details revealed.