According to a press release from the bank, the Asian Development Bank (ADB) authorized a $400 million subsidized loan on Friday to help rebuild homes and community facilities in Sindh that were destroyed by the catastrophic floods in 2022. One-third of Pakistan was submerged in the 2022 floods, which were caused by extremely heavy monsoon rains. Over 33 million people were affected by the flood, and at least 1,700 people died. Many of the almost 8 million displaced individuals are still residing in tents and other temporary housing.
The press release states that the Sindh Emergency Housing Reconstruction Project will be able to support livelihood recovery and repair community infrastructure and flood-damaged houses thanks to the concessional loan. The project’s main goal is to increase community resilience against natural hazards brought on by climate change.
According to the press release, the project would provide conditional cash incentives for the rehabilitation of 250,000 homes using designs that are both environmentally friendly and multi-hazard robust. “It will also facilitate the construction of infrastructure for 100,000 households in approximately 1,000 flood-damaged villages in Sindh, including covered drainage, renewable energy sources, and facilities for drinking water and sanitation, all driven by the community.”
Additionally, conditional cash incentives for small businesses, livestock, agriculture, and e-commerce will be supported by the project. This comprehensive approach aims to provide a holistic recovery plan that not only addresses immediate needs but also contributes to long-term community resilience and economic stability.
To expedite Pakistan’s flood recovery, the bank committed to providing $1.5 billion in total support between 2023 and 2025, calling the project a “key part of ADB’s multifaceted response” to the nation’s flood catastrophe. ADB Director General for Central and West Asia Yevgeniy Zhukov stated, “This project will help rebuild homes and communities, as well as reestablish livelihoods and essential amenities in Sindh, the province most affected by the devastating floods in 2022.”
The ADB said Sindh suffered about 83 percent of the total housing damage inflicted by the 2022 floods, with around 2.1 million houses either fully destroyed or damaged. It further stated that even after two years, the victims were still living in makeshift shelters devoid of basic amenities like electricity, water, and sanitary facilities.
The bank stated that it would continue to work toward ending extreme poverty while also committing to creating a wealthy, welcoming, sustainable, and resilient Asia and the Pacific region. In January, the Asian Development Bank (ADB) announced that it would support seven Central and West Asian nations, including Pakistan, in strengthening the role of the business community in providing broad, available, sufficient, accessible, and climate-resilient accommodation ecosystems that also prioritize the needs of low-income populations.
