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HomeNationalPakistan secures $8.57 billion pledges at Geneva Conference

Pakistan secures $8.57 billion pledges at Geneva Conference

$16.3 billion required and Pakistan wants to pay half, Resilient Recovery, Rehabilitation and Reconstruction Framework

A total of $8.57 billion were pledged at the first session of the day-long “International Conference on Climate Resilient Pakistan” in Geneva, according to information minister Marriyum Aurangzeb.

According to Pakistan’s Resilient Recovery, Rehabilitation and Reconstruction Framework a total of $16.3 billion would be required. The government of Pakistan wanted to pay for half of that with domestic resources such as its budget for development and public-private partnerships.

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Marriyum Aurangzeb has said that the first phase of the Geneva Conference on Rehabilitation and Reconstruction of Flood Victims has been completed.

Marriyum Aurangzeb said in a statement issued on Twitter that in the first phase of the Geneva Conference on Flood Victims, the European Union has announced $93 million, Germany $80.8 million, China $100 million, The Islamic Development Bank $4.2 billion and the World Bank $2 billion.

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He added that Japan has pledged $77 million, Asian Development Bank $1.5 billion, USAID $100 million and France $345 million while the second session of the Geneva Conference is going to start soon.

Meanwhile, in another tweet, she said that brotherly country Saudi Arabia has pledged $1 billion to help Pakistan in the difficult task of restoration and reconstruction.

Friendly countries and financial institutions announce assistance:

The Islamic Development Bank Group will provide $4.2 billion over the next three years.

World Bank announces $2 billion aid for flood victims. The EU will provide another 10 million euros in humanitarian aid. Pakistan, EU agree on 87 million euro package.

Germany pledges to provide 84 million euros. France pledges $10 million in aid. Japan announces $77 million aid. China announces $100 million aid. The Asian Development Bank (ADB) has announced $1.5 billion.

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