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ADB to give Pakistan up to US$2.5 billion in flood relief support: Finance ministry

ADB to give Pakistan up to US$2.5 billion in flood relief support: Finance ministry

FILE PHOTO: A view shows tents of the displaced people, following rains and floods during the monsoon season in Sehwan, Pakistan September 14, 2022. REUTERS/Akhtar Soomro/File Photo

ISLAMABAD: The Asian Development Bank (ADB) will give Pakistan up to US$2.5 billion in flood relief support, Pakistan's finance ministry said on Wednesday.

The announcement came after the ADB's country director Yong Ye met Pakistan's Finance Minister Ishaq Dar in Islamabad.

"ADB will provide flood relief support to Pakistan to the tune of US$2.3 billion to US$2.5 billion," the ministry said in a statement.

The money includes US$1.5 billion for one of its aid programmes known as Building Resilience with Active Countercyclical Expenditure (BRACE), which will be placed before the ADB board for approval during October, it said.

The floods caused by abnormal monsoon rains and glacial melt have submerged huge swathes of the South Asian country and killed nearly 1,700 people, the majority of them children and women.

The United Nations on Tuesday revised five-fold its humanitarian appeal for Pakistan, to US$816 million from US$160 million, as a surge of water-borne diseases and fear of growing hunger posed new dangers, which the World Health Organization (WHO) has termed a "second disaster".

Source: Reuters
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