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Thursday, February 29, 2024

Flood relief package from the international lender

The bank intends to process countercyclical support to help the poor and vulnerable, especially women & children, weather the impacts of food prices & other external shocks.

On Tuesday, the Asian Development Bank (ADB) said that it is working on a relief package for Pakistan, which is dealing with wreckage caused by severe floods.

ADB made a series of tweets regarding the devastation caused by floods in Pakistan and mentioned that the bank is working to provide a relief package.

“Following the devastating floods in Pakistan, ADB is working quickly to provide a significant package of relief and rehabilitation. This is designed to support people, livelihoods, and infrastructure immediately and in the long-term.”

The bank will use ongoing short and medium-term projects to repair damaged infrastructure, including roads and irrigation infrastructure. In addition, it will support the development and financial stability of the agriculture sector to boost food security.

Moreover, the bank intends to process countercyclical support to help the poor and vulnerable, especially women & children, weather the impacts of food prices & other external shocks.

“Long-term, we’ll prioritize projects that support post-flood reconstruction & strengthen climate & disaster resilience,” the bank said.

The international lender also stated that the upcoming relief package will be in addition to $3 million already approved by the ADB last month, for the immediate purchase of food, tents, and other relief goods.

The proclamation comes as massive monsoon rains in south and southwest Pakistan and glacial melt in northern areas caused flooding that has affected one-third of the population, nearly 33 million people in the South Asian nation of 220 million, sweeping away homes, crops, bridges, roads, and livestock in damages estimated at $30 billion.

Last month, ADB approved a grant of $3 million to support the emergency relief efforts in Pakistan amid disastrous floods across the country.

In a statement then, the global lender had said the amount would be financed from the Asia Pacific Disaster Response Fund (APDRF) and would help the government of Pakistan purchase food supplies, tents and other relief goods on an immediate basis to support flood victims across the country.