Islamabad, Pakistan (BBN) – The Asian Development Bank (ADB) on Thursday announced that it would extend $2.0 billion to Pakistan to help with the rehabilitation and reconstruction work resulting from the devastating floods.
These floods have affected 20 million people and shattered the country’s physical infrastructure, including roads, bridges, power lines, housing, schools, medical facilities, irrigation installations and farm structures.
The finance was announced by ADB Director General for Central and West Asia Department Juan Miranda, who arrived in Islamabad on Thursday to discuss the ADB rehabilitation and reconstruction plan with senior government officials and other donors.
The $2 billion will be for emergency rehabilitation and reconstruction work. The funds will be released in accordance with the findings of a Damage and Needs Assessment (DNA) that is being co-led by ADB and the World Bank.
The DNA will examine damages in 16 core areas. ADB will take the lead in eight, including transport and communication, energy, health, water and sanitation, irrigation, social protection and public administration services.
ADB has already assembled a team of more than 100 experts to prepare the DNA.
BBN/SI/AD-19Aug10-11:53 am (BST)