World Bank approved another loan for Pakistan
ISLAMABAD – World Bank has approved a $200 million funding to help Pakistan cope with 2022 flooding in tribal areas.
Last year, floods in South Asian nation killed more than 1,700 people, and caused damage worth trillions. The catastrophic inundation was heavier than usual torrential rains and several areas are still under the effects of climate change-induced disaster.
The unprecedented floods wreaked havoc in Sindh, Balochistan, and KPK, poverty-stricken regions which are already suffering from economic plights.
In a sigh of relief for distressed people of country’s northwestern region, World Bank has approved funds for emergency reconstruction and rehabilitation of flood protection infrastructure.
The funds aim to improve access to resilient and reliable basic services for rural households in the newly merged areas, and will benefit over 5 million people. The new programme will ensure that communities are involved in participatory planning, budgeting, monitoring, and improving social accountability systems.
Earlier this year, the international financial institution approved over $200 million in financing for Balochistan aimed at improving livelihoods and essential services.