Bank To Provide $2.5 Billion To Flood-Ravaged Pakistan| MENAFN.COM

Thursday, 01 December 2022 07:33 GMT

Bank To Provide $2.5 Billion To Flood-Ravaged Pakistan


(MENAFN- The Peninsula) AP

ISLAMABAD: The Asian Development Bank on Wednesday announced it would provide $2.5 billion in aid to flood-ravaged Pakistan, where climate-induced deluges have killed nearly 1,700 people since-mid June.

It would be the largest donation to the already impoverished country so far after the World Bank last month pledged $2 billion in aid.

Pakistan's Finance Ministry said in a statement that the ADB's country director, Yong Ye, announced the aid package at a meeting with Pakistan's newly appointed Finance Minister Ishaq Dar.

It said Ye expressed sympathy over damages and deaths caused by the monsoon-related flooding in Pakistan.

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The statement said Dar appreciated ADB's role and support in promoting sustainable development in Pakistan and he apprised Ye of the devastation caused by the floods and their impact on the economy of Pakistan.

Pakistan says the record-breaking floods have caused at least $30 billion in damage.
The latest development comes a day after the United Nations - amid a surge in diseases in flood-hit areas of Pakistan - asked for five times more international aid for Pakistan.

Pakistanis are now at increasing risk of waterborne diseases and other ailments, which have killed more than 350 people since July. Another 1,697 deaths were caused by the deluges this year.

The U.N. on Tuesday raised its aid appeal for Pakistan to $816 million from $160 million, saying recent assessments pointed to the urgent need for long-term help lasting into next year.

The previous day, World Health Organization Director-General Tedros Adhanom Ghebreyesus said about 10% of all of Pakistan's health facilities were damaged in the floods, leaving millions without access to health care.

He urged the international community to help Pakistan, where he said the floodwaters have stopped rising, but there is danger of more deaths from waterborne and other ailments among millions of flood survivors.

Doctors in Pakistan are trying to contain the outbreak of waterborne and other diseases, particularly in badly hit southwestern Baluchistan and southern Sindh provinces.

The disaster has also put at risk the education of 12 million school-aged children in Pakistan.

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