Pakistan Secures $8.5 Billion Aid Commitments At Geneva’s Conference:
Pakistan Secures $8.5 Billion Aid Commitments At Geneva’s Conference
GENEVA/ISLAMABAD: Pakistan today secured aid commitments of about $8.5 billion at Geneva’s conference.
In a tweet, Federal Minister for Information Marriyum Aurangzeb said that Pakistan has received $8.57 billion in flood aid at the International Conference on Climate Resilient Pakistan in Geneva, Switzerland on Monday.
She further said that the Asian Development Bank will provide $1.5 billion, China announced $100 million, European Union pledged $93 million, Germany $88 million, Japan $77 million while France announced $10 million aid for Pakistan at the Geneva conference on Monday.
She said that Prime Minister Shehbaz Sharif had launched an $8 billion flood aid appeal at the Geneva moot.
However, the donors commitments exceeded the expectations of Prime Minister Shehbaz Sharif, she added.
The recent floods wreaked havoc i the country, killing at least 1,700 people and caused $16 billion worth of losses to infrastructure and agriculture sector.
Information Minister said that the Islamic Development Bank has pledged the highest amount of aid _ $4.2 billion in three years, followed by $2 billion by the World Bank.
The European Commission committed 500 million euros assistance for flood rehabilitation in Pakistan.
Earlier, Prime Minister Shehbaz Sharif informed the donors that Pakistan was looking for $8 billion from the donors for the next three years to rehabilitate flood affected people and areas.
He said that the recent floods and heavy rains have caused a colossal damage to the economy and infrastructure in Pakistan.