Daily Times

Senate Standing Committee on Planning and Development was informed on Thursday Pakistan had so far received financial foreign assistance worth over US$4 billion to support flood relief activities in the country.

Officials from Economic Affairs Division (EAD) informed the committee that out of total financial assistance, the international development partners had extended an amount of US$3.64 billion in form of loans and $435.03 million in the form of grants. Further the meeting was informed that the development partners and the countries had dispatched in kind assistance for the flood victims.

The meeting of the committee was presided over by Senator Atta Ur Rehman here and was attended by Senators Dost Muhammad Khan, Ejaz Ahmed Chaudhry, Saadia Abbasi, Hidayat Ullah, Tahir Bazinjo and Nuzhat Sadiq. The meeting was informed that out of total loan amount, the World Bank had extended $1.78 billion loan while the Asian Development Bank provided loan worth of $559 million. Similarly Asian Infrastructure Investment Bank also extended $500 million loans. It was highlighted in the meeting that out of total grant, Asian Development Bank (ADB) extended grant of $8.28 million while Islamic Development Bank (IsDB) provided grant of $0.7 million.

The meeting was informed that United Nations in coordination with government of Pakistan launched a $160.3 million flash appeal on August 30, 2022 out of which $148 million have been pledged by the humanitarian commitments as of September 15, 2022. The revised appeal, however urgently seeks $816 million to respond to the growing lifesaving needs of the people-a jump of $656 million from the initial applea of $160 million. UN’s organizations WHO, UNFPA and FAO provided financial support of $3.06 million whereas China also provided $112.33 million for the rehabilitation and reconstruction process in flood hit areas. The United States extended financial assistance of over $95 million while Japan provided $7 million of financial support.