As reported on Wednesday, the World Bank has greenlit a $200 million emergency aid package for Pakistan to mend infrastructure damaged by severe floods.
In its announcement, the World Bank mentioned its executive board’s approval of this sum, destined to rehabilitate flood-damaged infrastructure in Khyber Pakhtunkhwa. The aid is slated for transfer into the State Bank of Pakistan’s account in the coming days.
It is worth noting that Pakistan, following the destructive floods last year, sought monetary assistance from global lenders like the International Monetary Fund (IMF), World Bank (WB), and Asian Development Bank (ADB), among others. The decision came as part of the country’s strategy to cope with the devastating aftermath of the floods.
Reliable sources have suggested that these international lenders received a joint report from Pakistan’s NDMA, finance and planning, and development ministries detailing the losses incurred during the floods.
