By Staff Reporter
ISLAMABAD: The Asian Development Bank on Tuesday said it was working “quickly” to provide a “significant” relief and rehabilitation package to the flood-hit Pakistan.
“Following the devastating floods in Pakistan, ADB is working quickly to provide a significant package of relief and rehabilitation,” the bank said in a statement. “The package is designed to support people, livelihoods, and infrastructure immediately and in the long-term.”
Record monsoon rains and glacier melt in the country’s northern mountains have triggered flash floods and rain-induced landslides that have killed hundreds of people, sweeping away houses, roads, railway tracks, bridges, livestock, and crops.
Huge areas are inundated, and hundreds of thousands of people have been forced from their homes. The government says the lives of nearly 33 million people have been disrupted.
According to the National Disaster Management Authority’s (NDMA) latest report, the total number of deaths has risen to 1,559, with 15 reported during the last 24 hours.
The ADB said it would use ongoing projects to repair damaged infrastructure, including roads and irrigation infrastructure, and to support the development and financial stability of the agriculture sector to boost food security for the short and medium-term plan.
“We’re also processing countercyclical support to help the poor and vulnerable, especially women and children, weather the impacts of food prices and other external shocks,” the bank said.
“We’ll prioritise projects that support post-flood reconstruction and strengthen climate and disaster resilience for the long-term plan.”
“We will provide more details of our new assistance package when it is finalised. We will work closely with the government and other international agencies to help rebuild the lives and livelihoods of the more than 33 million people affected by the disaster,” the bank added.
Pakistan needs financial help to deal with the catastrophic floods and hoped that the financial institutions such as IMF, World Bank and ADB would take the economic fallout into account.
United Nations (UN) Secretary-General Antonio Guterres earlier said floods are estimated to have caused about $30 billion in economic losses.
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