ProPropertyNewsWorld Bank Repurposes $300 Mn for Flood-Affectees

World Bank Repurposes $300 Mn for Flood-Affectees

ISLAMABAD: World Bank has repurposed an amount of USD 300 million for relief and rehabilitation activities in the flood-affected areas of Pakistan.

Martin Raiser, VP of World Bank, informed Pakistan’s Ambassador Masood Khan upon his visit to Pakistan’s embassy in Washington.

According to the embassy’s press release, Masood Khan informed the World Bank’s delegation that there had been 1,355 fatalities and thousands have sustained injuries.

More than 6,500 km of roads and 246 bridges have been destroyed in terms of infrastructure and buildings. More than 750,000 animals have died.

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The farmers have lost their standing crops of cotton and sugarcane, costing them a significant loss in the agricultural economy.

He further added, “The damage is way beyond what the government could alone tackle. We look forward to our friends, the international community, and our development partners assisting us in meeting this challenge.”

It is important to note that the World Bank has been a steadfast development partner of Pakistan. Pakistan has been a member of the World Bank since 1950. Since then, the World Bank has provided $40 billion in assistance.

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