World Bank provides $1.69 billion financial support to Pakistan

The World Bank has approved a decision to provide $1.69 billion in financial support for five projects in the flood-hit Sindh province of Pakistan. According to reports in the national press, the projects that the World Bank will support include rehabilitation, construction of new homes, restoration of production, and health services for mothers and children. Najy Benhassine, World Bank Country Director for Pakistan, stated that Sindh province was the most severely affected by the floods this year, and emphasized that the financial support provides an opportunity for Pakistan to strengthen its flood response efforts and reform its institutions and governance structures. On December 12, the Asian Development Bank (ADB) approved a $554 million financial package for Pakistan to support rehabilitation and reconstruction efforts for flood victims. Approximately 1,740 people lost their lives and more than 12,000 people were injured due to the floods that hit Pakistan between June and October. It was reported that the cost of the disaster to the country was over $30 billion.