Pakistan given highest funding in 2022, ADB report

    Minute Mirror - Subscribe
    Minute Mirror - Subscribe

    Pakistan was given the highest funding in the year 2022, the Asian Development Bank (ADB) report for the year has said.

    The ADB provided $31.8 billion of project financing in Asia, the report said.

    According to the report, the floods damaged Pakistan’s economy the most, due to floods, there was a major destruction of crops in Pakistan, due to the destruction of crops, the balance of demand and supply in Pakistan was disturbed, which increased inflation locally.

    The Asian Development Bank (ADB), along with its partners, has given projects worth $5.5 billion to Pakistan, while concessional loans worth $2.6 billion were given to Pakistan in 2022.

    According to the report, the war between Russia and Ukraine is the cause of global inflation, experts are needed to avoid the losses of climate change in Pakistan.

    According to the Asian Development Bank, 1,730 people died due to floods in Pakistan in 2022, floods affected 33 million people in Pakistan and caused a loss of $ 30 billion to the economy.

    Out of the $16 billion pledged for the rehabilitation of flood-affected areas, $1.5 billion was provided to Pakistan.