As the flood-ravaged country deals with the aftermath of the recent catastrophic floods, it requires international financial flood relief aid to cope with the large-scale destruction caused by the floods. The floods brought with them substantial destruction, resulting in the loss of crop, livestock, railway tracks, bridges and other essential infrastructure.
In fact, U.N. Secretary-General Antonio Guterres told a joint news conference in the capital Islamabad, after meeting with Prime Minister Shehbaz Sharif on his two-day visit,
“I call on the international community that Pakistan needs massive financial support, as according to initial estimates the losses are around $30 billion.”
International Flood Relief Aid
The United Nations had launched an appeal for $160 million in aid to help Pakistan cope with the disaster. As a result of which, Pakistan received donations from all over the world. Pakistan’s Army Flood Relief Fund has raised Rs. 417 million so far, as announced by Major General Babar Iftikhar, Director General of the Inter-Services Public Relations (DG ISPR).
Asian Development Bank (ADB) Aid
The Asian Development Bank (ADB) announced on Wednesday that it would provide flood relief support of $2.3-$2.5 billion to Pakistan as the cash-strapped nation seeks funding in the wake of devastating floods that have caused catastrophic damage in Pakistan.
A press release issued by the Finance Division stated that this announcement was made during Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar’s meeting with a delegation of ADB, headed by its country director for Pakistan, Yong Ye.
During the meeting, Ye offered condolences for the loss of lives and properties due to floods and congratulated the newly appointed financial minister, Dar, on assuming office.
According to the ADB national director, Balochistan Rural Development and Community Empowerment Programme would receive $1.5 billion of the promised aid.
Ye also highlighted ADB’s existing and planned programs in many areas, including social protection, food security, and energy. A press release noted that the Country Partnership Strategy for Pakistan 2021–25 is in accordance with the government of Pakistan’s vision.
The financial minister welcomed the delegation and valued ADB’s assistance in advancing sustainable development in the nation, as a way to conclude the meeting.