Home Business Pakistan receives $4 bn as flood relief assistance

Pakistan receives $4 bn as flood relief assistance

6 min read

ISLAMABAD, Dec. 06, (INP-WealthPK)—Pakistan has so far received aid worth USD4 billion for flood relief efforts.

The information was by shared by members of the Economic Affairs Division (EAD) during a meeting of the Senate Standing Committee on Planning and Development.

They said that out of this USD4 billion sum, USD3.64 billion was given to Pakistan as loans and the remaining USD435.03 million as aid money.

In addition to aid money, international partners and countries have also supported Pakistan in its flood-relief efforts through supplies of essential items of food, shelter and utilities.

The meeting was chaired by the Senator Atta-Ur-Rehman, while Senators Dost Muhammad Khan, Ejaz Ahmed Chaudhry, Saadia Abbasi, Hidayat Ullah, Tahir Bazinjo and Nuzhat Sadiq were also in attendance.

The members said that the World Bank has given a loan of USD1.78 billion, Asian Development Bank USD559 million and the Asian Infrastructure Bank has forwarded a loan of USD500 million to Pakistan.

As for grants, Asian Development Bank (ADB) has given a grant of USD8.28 million while Islamic Development Bank (IsDB) has provided a grant of USD0.7 million.

EAD members continued, “the United Nations made an appeal for USD160.3 million, of which humanitarian groups have already provided USD148 million as of September 15, 2022.”

“In its revised appeal the UN has asked for a sum of USD816 million to avert the impending crises of hunger and homelessness, increasing its appeal by USD656 million over the previous initial sum of USD160 million,” they said.

EAD members further said that assistance from the United States and Japan was USD95 million and USD7 million respectively, and China has provided Pakistan with financial support worth USD112.33 million while the WHO, the UNFPA and the FAO have given a cumulative sum of USD3.06 million.

Also, Canada, Australia, the European Union, the UK and European Civil Protection and Humanitarian Aid Operations (ECHO)-EU extended grants worth of USD4.22 million, USD3.48 million, USD19.57 million, USD62.52 million, and USD30.67 million, respectively.

Assistance from the UK(FCDO), Germany, France, Sweden, Denmark, New Zealand, Norway, Qatar, Azerbaijan, and South Korea came in sums of USD62.5 million, USD58.87 million, USD0.99 million, USD1.05 million, USD1.95 million, USD0.5 million, USD8.6 million, USD2.1 million, USD2 million, and USD4.86 million, respectively.

EDA members further said that the mandate to coordinate, negotiate and arrange foreign assistance lies with the Ministry of Economic Affairs while the district-wise utilization of foreign assistance is the duty of provincial governments, PDMAs and NDMA.

They said that the World Bank is itself monitoring the whole process of aid money disbursement in rehabilitation and reconstruction efforts.

During the meeting, damages incurred by the Mohmand Dam also came under discussion.

Author

  • FD News

    Financial Daily (FD) is an emerging media outlet providing news reports, analysis and features especially related to politics and economy. FD is currently one of the largest and most comprehensive private-sector information portals in Pakistan, providing its readers with apolitical, unbiased and fact-based news reports and analyses.

Load More Related Articles
Load More By Editor in Chief
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Pricing agreement inked for uninterrupted water supply to Gwadar Free Zone

Islamabad, Nov. 13 (INP): In a major boost for Gwadar Free Zone, an agreement has been ink…