ISLAMABAD: The Asian Development Bank (ADB) will provide up to $2.5 billion in flood relief assistance to Pakistan, Pakistan’s finance ministry said on Wednesday.
ADB’s country director Yong Ye made the announcement after meeting Pakistan’s Finance Minister Ishaq Dar in Islamabad.
“ADB will provide flood relief assistance of $2.3 to 2.5 billion to Pakistan,” the ministry said in a statement.
The funding includes $1.5 billion for one of its assistance programs, known as Building Resilience with Active Countercyclical Expenditure (BRACE), which will be put up for approval by the ADB board during October, it said.
Floods caused by abnormal monsoon rains and melting glaciers have submerged large parts of the South Asian country and killed nearly 1,700 people, most of them children and women.
The United Nations on Tuesday revised its humanitarian appeal for Pakistan five-fold from $160 million to $816 million, as fears of a rise in water-borne diseases and rising hunger pose new threats, which the World Health Organization (WHO) said. has made an agreement. “The Second Disaster”.
ADB’s country director Yong Ye made the announcement after meeting Pakistan’s Finance Minister Ishaq Dar in Islamabad.
“ADB will provide flood relief assistance of $2.3 to 2.5 billion to Pakistan,” the ministry said in a statement.
The funding includes $1.5 billion for one of its assistance programs, known as Building Resilience with Active Countercyclical Expenditure (BRACE), which will be put up for approval by the ADB board during October, it said.
Floods caused by abnormal monsoon rains and melting glaciers have submerged large parts of the South Asian country and killed nearly 1,700 people, most of them children and women.
The United Nations on Tuesday revised its humanitarian appeal for Pakistan five-fold from $160 million to $816 million, as fears of a rise in water-borne diseases and rising hunger pose new threats, which the World Health Organization (WHO) said. has made an agreement. “The Second Disaster”.