HomeBusinessEconomyWorld Bank to give $1.69 Billion for flood victims of Pakistan

World Bank to give $1.69 Billion for flood victims of Pakistan

The money for five projects totaling $1.692 billion was granted by the World Bank’s Board of Executive Directors on Tuesday in order to assist persons living in Sindh, within Pakistan’s flood-affected areas.

According to a statement issued by the World Bank, three of the five programmes support rehabilitation, housing repair, and the restoration of food production for vulnerable communities. The combined value of the first two projects is $500 million, and the third project is only about $292 million.

“Sindh was the province worst affected by the 2022 floods. There were huge damages to the housing, health, and agriculture sectors and people lost their livelihoods. Beyond the rehabilitation and reconstruction of damaged houses and infrastructure, our engagement in the flood response effort is an opportunity to strengthen resilience, and reform institutions and governance structures”, said Najy Benhassine, World Bank Country Director for Pakistan.

The $500 million project’s top priorities will be improving the province’s capacity to handle emergencies and generating temporary sources of income.

“The project will help restore and improve critical irrigation and flood protection infrastructure, water supply schemes, roads, and related infrastructure. At least 2 million people—approximately 50 per cent of whom are women—in the most flood-affected districts will benefit from the restoration and the resilient reconstruction of critical infrastructure”.

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Through a community-based cash-for-work initiative, about 100,000 households will get short-term financial assistance.

“The $500 million Sindh Floods Emergency Housing Reconstruction Project will support owner-driven and multi-hazard resilient reconstruction of core housing units. A housing subsidy will provide reconstruction and restoration grants for 350,000 housing units (almost 20 per cent of the total housing rehabilitation needs for Sindh). Cash grants will be provided for houses with structural damage to partially finance reconstruction or restoration. “

Twin pit latrines and basic rainwater collection systems will also be supplied to improve access to water and sanitation.

The $292 million approved for the “Sindh Water and Agriculture Transformation Project” will also improve integrated water resource management, increase agricultural water productivity, and allow farmers who were affected by the flood to resume crop production.



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