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World Bank ‘repurposing’ $300 million for flood victims – Newspaper

WASHINGTON: World Bank informs Pakistan about $300 million ‘redistribution’ of his funds for relief and rehabilitation of flood victims.

Martin Reiser, bank vice president, conveyed decision Ambassador of Pakistan Masood Khan during his visit to the Embassy of Pakistan in Washington on Wednesday.

The ambassador told him of in flood situation and of in governmentfighting efforts with this is an unprecedented disaster, the embassy said in a press release.

However, the statement does not explain what funds were reallocated or redirected. On June 9, the World Bank approved $300 million. for repair of rural roads in Khyber Pakhtunkhwa.

bank It was also announced the creation of another fund in the amount of $300 million. in December 2020 for the Sindh Sustainability Project; and the Solid Waste Management Emergency Assistance and Efficiency Project.

Pakistan was a member of World Bank since 1950. He received about $40 billion in aid over in last 72 years old.

During the meeting, Ambassador Masood Khan informed the representatives of the World Bank that, despite the fact that the contribution is less than one percent of gases that warm the planet, Pakistan”remains one of most affected countries” unstable climate changes.

“The recent disaster has strengthened need to review our strategy from mitigation and adaptation to preparedness and resilience,” Masood Khan said.

The Ambassador informed the delegation that death the number of victims of the flood exceeded 1350 people, thousands were injured.

Over 6500 km of roads and 246 bridges were damaged. Over 750,000 heads of cattle also died.

“FROM one-third of country under water, farmers lost crops of cotton and sugar cane cost them huge losses in agrarian economy”, – said the ambassador.

“The damage is way Besides that government could handle it alone. We are looking forward to our friends international community and our development partners to help us in meeting with it challenge,” he added.

Published in Dawn, September 9, 2022

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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