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Tuesday, September 27, 2022
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HomeNationalWorld Bank intends to contribute $1.7 billion in flood relief assistance

World Bank intends to contribute $1.7 billion in flood relief assistance

The World Bank announced that it intends to contribute up to $1.7 billion in flood-related assistance through both ongoing and new initiatives.

On Thursday, the World Bank also announced to contribute $22.2 million in funding for farmers who had been affected by the flooding.

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World Bank’s Regional Vice President for South Asia Martin Raiser and South Asia Regional Director for Sustainable Development John Roome said that the terrible floods have left the afflicted people in economic suffering,

According to a press release, Raiser told Power Minister for Energy Khurram Dastgir that the World Bank plans to offer flood-related support of up to $ 1.7 billion through current and new projects.

The press release stated that all parties consented to use the World Bank’s Locust Emergency and Food Security (LEAFS) program to aid in the recovery of the agricultural community in flood- and locust-affected areas.

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Roome promised to ask the World Bank Group Board to provide aid to Pakistan as it works to recover from the destruction brought on by record flooding.

Raiser also lauded Pakistan’s policy change in favor of renewable energy and said it was a positive move in the right way.

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