Pakistan will receive more than $8.5 billion from international donors to rebuild the country after the devastating floods, Pakistani Minister of Information and Broadcasting Marriyum Aurangzeb said on Monday
MOSCOW (Pakistan Point News / Sputnik - 09th January, 2023) Pakistan will receive more than $8.5 billion from international donors to rebuild the country after the devastating floods, Pakistani Minister of Information and Broadcasting Marriyum Aurangzeb said on Monday.
Switzerland hosted an international conference on Climate Resilient Pakistan under the UN auspices on Monday.
"The first plenary of day-long Geneva Conference culminated in generous outpouring of int'l community, EU pledged $93 million, Germany $88 million, China $100 million, IDB (Islamic Development Bank) $4.2 Billion, WB (World Bank) $2 billion, Japan $77 million, ADB (Asia Development Bank) $1.5 billion. USAID (United States Agency for International Development) $100 million, France $345 million, total $8.57 billion, in line with collaborative vision of coalition of willing," Aurangzeb said on Twitter.
The Asian Infrastructure Investment Bank pledged $1 billion to build more climate-resilient infrastructure, and Saudi Arabia pledged $1 billion to help Pakistan in recovery and rehabilitation, the Pakistani minister said.
As a result of the monsoon rains and floods that began in June 2022 in Pakistan, more than 1,700 people died and more than 12,000 were injured. In total, more than 33 million people were affected by the floods. At least 2 million houses were damaged and more than 1 million livestock were killed.
The United Nations said that about $16.3 billion is needed to restore homes, roads, and other infrastructure in flood-hit areas. Islamabad will finance half of this amount from its own resources.
