Pakistan secured more than $8 billion in flood aid on Monday as it scrambles to rehabilitate its 33 million people and repair damage.
Information Minister Marriyum Aurangzeb tweeted that Pakistan received $8.57 billion at the Geneva conference.
After launching an $8 billion flood aid appeal at the Geneva meeting, Prime Minister Shehbaz Sharif received the pledges.
Pakistan’s $350 billion economy is in trouble after deadly floods killed 1,700 and caused $16 billion in damages, half of which Islamabad is financing.
In response to Pakistan’s $8 billion flood appeal, the World Bank and Islamic Development Bank (IsDB) pledged over $6 billion for climate rebuilding.
Pakistan will receive $4.2 billion from the IsDB and $2 billion from the World Bank over the next three years. The U.S., China, and other nations have also pledged support.
PM Shehbaz told the moot’s participants that Pakistan needs $8 billion from world donors over the next three years to rebuild its economy, which was devastated by floods from June to October 2022.
The PM also launched the ‘Resilient Recovery, Rehabilitation, and Reconstruction Framework’ (4RF).
The framework outlines a vision for the rehabilitation and reconstruction of flood-affected areas and emphasizes global support and long-term partnership.
The premier called for a long-term international plan to rebuild flood-ravaged areas and make Pakistan climate-resilient.
He said Pakistanis need a new lifeline to power their economy and re-enter the 21st century with a secure future.
The prime minister said, “We must rebuild flood-ravaged lives and dreams.”
IsDB pledges $4.2bn over 3 years
The IsDB president pledged $4.2 billion over the next three years to Pakistan for climate rebuilding.
The Islamic Development Bank group pledges $4.2 billion over the next three years to contribute to Pakistan’s climate resilience and development goals.
ADB will prioritize $1bn over three years.
In the next three years, the Asian Development Bank (ADB) will prioritize up to $1 billion for Pakistan’s climate and disaster risk reconstruction and resilience.
ADB approved a $557 million emergency flood-assistance package for Pakistan and a $1.5 billion countercyclical program.
“ADB has acted swiftly to support Pakistan’s flood response,” adding that the Manilla-based lender believes reconstruction work must be coupled with macroeconomic stabilization and good governance for recovery.
Extra $100m from US
A senior official said that USAID will provide $100 million more to help Pakistan recover from last year’s floods.
USAID Deputy Administrator Isobel Coleman told reporters in Geneva that the U.S. will give Pakistan $100 million to help it recover from the 2022 monsoon floods.
France reveals $345m
In a video message, French President Emmanuel Macron announced support for Pakistan in talks with financial institutions and said Paris would provide expertise and financial support as needed by Islamabad.
Macron said France will continue to provide expertise and financial aid.
E.U. gives Pakistan €500m
Commission President Ursula von der Leyen called the conference a timely initiative and said 2022 was a difficult year for the world due to the pandemic and Pakistan’s worst flood, which put pressure on vulnerable people.
She said millions of people remained underwater for months, and children lacked food.
Leyen said the conference would help Pakistan recover. She announced €500 million in country aid.
