World Bank approved another loan for Pakistan

World Bank approved another loan for Pakistan

ISLAMABAD – World Bank has approved a $200 million funding to help Pakistancope with 2022 flooding in tribal areas.

Last year, floods in South Asian nation killed more than 1,700 people, andcaused damage worth trillions. The catastrophic inundation was heavier thanusual torrential rains and several areas are still under the effects ofclimate 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 andrehabilitation of flood protection infrastructure.

The funds aim to improve access to resilient and reliable basic servicesfor rural households in the newly merged areas, and will benefit over 5million people. The new programme will ensure that communities are involvedin participatory planning, budgeting, monitoring, and improving socialaccountability systems.

Earlier this year, the international financial institution approved over$200 million in financing for Balochistan aimed at improving livelihoodsand essential services.