Pakistan government seeks another huge loan package from World Bank
Shares
ISLAMABAD – World Bank has approved a $1.692 billion financing package to support reconstruction efforts in Sindh after devastating floods.
In a statement, the global lender said its Board of Executive Directors approved $1.692 billion in financing for five projects to support people living in flood-affected areas of Sindh.
It said out of five projects, three projects support rehabilitation and housing reconstruction and the restoration of crop production for vulnerable communities, while another two projects support health services for mothers and children.
WB Country Director for Pakistan Najy Benhassine termed southeastern region Sindh as the worst affected province by massive floods, mentioning huge damages to the housing, health, and agriculture sectors.
Mr Benhassine said ‘Beyond the rehabilitation and reconstruction of damaged houses and infrastructure, our engagement in the flood response effort is an opportunity to strengthen resilience, and reform institutions and governance structures’.
The funds will provide short-term livelihood opportunities and strengthen the provincial government’s capacity to respond to disasters, and will further aim to restore and improve critical irrigation and flood protection infrastructure, water supply schemes, roads, and related infrastructure.
