World Bank repurposes $2b for Pakistan’s flood-affected areas

 

A man and a woman use a makeshift raft as they cross a flooded street, following rains throughout the monsoon season in Hyderabad, Asian country August twenty four, 2022. — Reuters

• World Bank's Martin Raiser reaffirms bank’s commitment to supporting folks of Asian country within the wake of ruinous flooding.
• “We square measure deeply saddened by the loss of lives and livelihoods thanks to the devastating floods," says Raiser.
• “We square measure repurposing funds from existing comes to support imperative wants in health, food, rehabilitation, and money transfers," he says.

ISLAMABAD: so as to produce immediate relief to the flood victims, the globe Bank has declared repurposing $2 billion — meant for multi-sectoral comes in Pakistan — for the deluge-hit areas within the country.

World Bank's new vp for the South Asia region, Martin Raiser, all over his 1st visit to {pakistan|Pakistan|Islamic Republic of Pakistan|West Pakistan|Asian country|Asian nation} and reaffirmed the Bank’s commitment to supporting the folks of Pakistan within the wake of ruinous flooding.

“We square measure deeply saddened by the loss of lives and livelihoods thanks to the devastating floods and that we square measure operating with the federal and provincial governments to produce immediate relief to those that square measure most affected,” he said.

During his two-day visit, Raiser met with Ayaz Sadiq, Minister for Economic Affairs Division, Miftah Ismail, Minister of Finance and Revenue, Aisha Ghaus authority, Minister of State for Finance and Revenue, Ahsan Iqbal, Minister of designing and Development and Special Initiatives and Khurram Dastagir, Minister of Energy. He conjointly met with Jameel Ahmed, Governor depository financial institution of Pakistan, general officer Akhtar Nawaz, Chairman National Disaster Management Authority, still as representatives from assume tanks and therefore the non-public sector.

In the conferences, Raiser mentioned very well the impact of the floods in Asian country and therefore the World Bank’s support, The News reported .

“As immediate response, we tend to square measure repurposing funds from existing World Bank-financed comes to support imperative wants in health, food, shelter, rehabilitation, and money transfers. additionally to the present, we tend to square measure operating with the federal and provincial authorities to organize emergency operations to quickly begin the reconstruction and rehabilitation to reconstruct or repair infrastructure, housing and restore livelihoods, and to assist strengthen Pakistan’s resilience to climate-related risks. we tend to square measure envisaging finance of regarding $2 billion to it impact,” he said.

Raiser highlighted that Asian country was among the world’s high ten countries most suffering from temperature change. He conjointly inspired the govt. to still target palmy implementation of current investments in areas like girls’ and boys’ learning, health, reduced flight, social protection, energy transition, and climate resilience lay the muse for a sustained recovery from this year’s flood disaster.

Raiser conjointly met with Sindh Chief Minister Murad Ali Shah. They mentioned the impact of large rains and up to date floods and the way the globe Bank is supporting the govt. of Sindh with reconstruction and rehabilitation efforts. throughout his visit to Sindh, he was given a chance to visualize first-hand the extent of damages and meet affected households at a relief camp in Dadu district.

Raiser was joined in his conferences by the globe Bank Country Director for Pakistan, Najy Benhassine, and therefore the International Finance Corporation Country Manager, Zeeshan Ahmed sheik.