Islamabad: The Asian Development Bank (ADB) on Thursday (October 5) announced a relief and rehabilitation package of USD 2.5 billion for the relief and rehabilitation of flood affectees in Pakistan, news sources reported.
The announcement was made during a meeting between Finance Minister Ishaq Dar and ADB Country Director for Pakistan Yong Ye. According to Yong Ye, of the total aid offered, USD 1.5 billion will be allocated to the Balochistan Rural Development and Community Empowerment Programme (BRDCEP), while the remainder distributed among other provinces. Director Ye stated that the final proposal for issuance of the funds will be presented to the bank’s board of directors this month.
The ADB envoy informed Dar about the ongoing development projects under the ADB 2021-25 Partnership Programme. It was revealed that the bank is working on initiatives in a variety of sectors, including social protection, food security, and energy.
It is important to mention that ADB has already disbursed USD 3 million for the rescue and relief operation during the monsoon season. The bank has also announced a comprehensive short and long-term rehabilitation and relief plan for the flood-hit areas of Pakistan. Under the programme ADB will help the government rehabilitate 33 million people and invest in sustainable projects in the long-term.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
