KARACHI: There has been an announcement from the World Bank that a $2 billion fund will be set up to assist millions of flood victims throughout Pakistan with the reconstruction of infrastructure and rehabilitation of their homes.
A World Bank official told the Sindh Information Minister Sharjeel Inam Memon on Sunday that the bank would provide Rs110 billion for the construction of flood-affected people’s homes. (Reported by news source)
Besides the World Bank, the Sindh government will also contribute Rs 7 billion to rebuild Karachi’s infrastructure which has been damaged by recent torrential downpours, according to Sharjeel Inam.
A Sindh government official told CNN that 506,579 tents, 523,195 tarpaulins, 3,023,872 mosquito nets, 798,053 litres of mineral water, and other necessities have been distributed.
A total of Rs13 billion is expected to be spent on rebuilding the metropolis’ infrastructure. To address the difficulties, Murad Ali Shah, the chief minister, oversees the entire procedure personally and convenes district-level meetings regularly.
The World Bank’s Country Director Najy Benhassine announced the decision of giving $2 billion fund on Saturday during a meeting with Pakistan’s Finance Minister Ishaq Dar, saying the funds would be allocated to flood-prone areas from its existing financed projects.
As the Asian Development Bank announced flood relief support of between $2.3 and $2.5 billion to assist Pakistan in coping with the devastation caused by unprecedented rains and floods, the development comes as Pakistan deals with unprecedented rains and floods.
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