Washington, August 17: The World Bank has agreed to provide give a USD 900 million financial aid to Pakistan which is facing devastating flood that has affected 14 million people.
“The Government of Pakistan has requested around USD 900 million of financial support from the World Bank, which we have committed to provide,” the World Bank said in statement.
The funding for this would come from the Bank’s Fund for the Poorest (the International Development Association, IDA) through reprogramming of currently planned projects and reallocation of undisbursed funds from ongoing projects.
On August 11, Pakistan had asked the World Bank and the Asian Development Bank (ADB) to undertake a Damages and Needs Assessment in the flood-hit areas, and the United Nations (UN) the Early Recovery Needs Assessment.
–PTI