GENEVA: The World Bank and the Islamic Development Bank (IDB) on Monday pledged more than $6 billion to Pakistan in response to the country’s $8 billion flood appeal in its climate reconstruction efforts. Can be helped.
Pakistan is in economic trouble after deadly floods ravaged the country, killing at least 1,700 people and causing more than $16 billion in damage – half of which Islamabad is financing from its own resources. .
The pledges came as Prime Minister Shehbaz Sharif launched an $8 billion flood relief appeal at the International Conference on Climate Resilient Pakistan in Geneva, aimed at helping the country recover from the devastating floods. It was to help control.
The Islamic Development Bank has pledged $4.2 billion and the World Bank $2 billion to Pakistan over the next three years, while the United States and other countries have also announced support.
In Geneva, Prime Minister Shehbaz said Pakistan desperately needs $8 billion from global donors over the next three years to boost the country’s economy, which has been largely devastated by severe floods from June to October 2022. had gone
Officials from nearly 40 countries, as well as private donors and international financial institutions, have gathered in Geneva as Islamabad seeks cooperation in what is expected to be a major test of who pays for climate disasters. It will be the case.
Breakdown of pledges received at Geneva moot:
- Islamic Development Bank — $4.2 billion
- World Bank — $2 billion
- Asian Development Bank — $1 billion
- USAID — $100 million
- Japan — $77 million
- Germany — €84 million
- European Union — €0.5 billion
- France — $10 million
