Tag: reconstruction

  • ADB approves $400 million loan to rebuild Sindh’s flood-damaged homes, infrastructure

    ADB approves $400 million loan to rebuild Sindh’s flood-damaged homes, infrastructure

    The Asian Development Bank (ADB) has granted Pakistan a $400 million concessional loan to aid in the reconstruction of homes and infrastructure in Sindh province, heavily impacted by the 2022 floods.

    The funds will be used for the Sindh Emergency Housing Reconstruction Project, which aims to repair flood-damaged houses and community facilities while boosting livelihood recovery and enhancing resilience to climate change.

    The project is part of ADB’s broader response to Pakistan’s flood crisis and contributes to the bank’s pledge of $1.5 billion in aid from 2023 to 2025. Yevgeniy Zhukov, ADB’s Director General for Central and West Asia, emphasised that the initiative will help rebuild homes and restore essential services in Sindh, the province most affected by the floods. The disaster impacted 33 million people and caused extensive damage nationwide.

    Sindh sustained about 83% of the total housing damage from the floods, with roughly 2.1 million homes either destroyed or severely damaged. Two years later, many survivors are still living in inadequate temporary shelters lacking basic services like water, sanitation, and electricity.

    The ADB’s project will support the reconstruction of 250,000 homes with designs that are resilient to multiple hazards and environmentally friendly. Additionally, it will fund the construction of community infrastructure such as drinking water and sanitation facilities, covered drainage, and renewable energy solutions for 100,000 households in approximately 1,000 flood-affected villages.

    The project also includes conditional cash grants for livestock, agriculture, small businesses, and e-commerce. A $500,000 technical assistance grant will be provided to support the government’s capabilities in procurement, compliance, and management.

    Srinivas Sampath, ADB’s Director for Water and Urban Development, noted that the project not only aims to rebuild Pakistan effectively but also to promote community-driven climate resilience and disaster risk management strategies, better preparing the country for future hazards.

  • World Bank proposes $2 billion for flood-ravaged Pakistan

    World Bank proposes $2 billion for flood-ravaged Pakistan

    The World Bank has proposed $2 billion in finance to jump-start infrastructure restoration and rebuilding following severe flooding.

    Martin Raiser, the new Vice President of the World Bank for the South Asia Region, revealed that he had just returned from his first official trip to the country that had been devastated by floods and reaffirmed his commitment to helping the Pakistani people as the floods wreaked havoc all over the nation.

    The international lender expressed regret for the loss of lives and livelihoods and stated that they were collaborating with the federal and provincial governments to offer prompt relief.

    A World Bank official also disclosed that monies from ongoing World Bank-financed programmes are being repurposed to address immediate needs in the areas of health, food, shelter, rehabilitation, and cash transfers.

    The Prime Minister, Shehbaz Sharif, has been requesting a freeze on loan repayment from the Paris Club and others, claiming that there is a huge discrepancy between what is being requested and what is actually available. He also asked the head of the UN and the leaders of Europe to help.

    Recently, the PM of Pakistan visited New York City for the UNGA. In his speech, the PM emphasised Islamabad’s predicament following the flooding disaster and pleaded with world leaders to band together and take action before it’s too late.