Islamabad: World Bank (WB) Vice President (South Asia Region) Martin Raiser said on Saturday (September 24) that the bank intends to repurpose USD 2 billion – previously envisioned to support multisectoral projects – to help Pakistan enhance its resilience to climate-related risk, news sources reported.
The funding will be utilised to meet immediate needs in the areas of health, food, housing, rehabilitation, and cash transfers. Furthermore, in the future, the WB will engage numerous partners to invest in multi-sectoral programmes such as children’s nutrition, education and skills, irrigated agriculture, tourism, and urban development. The World Bank said in a statement that the bank’s major priority is to support policy and institutional changes with USD 13 billion focused on 56 projects. These initiatives will focus on sustainable development, climatic resilience, and human development. During his tour to flood-affected areas, Raiser stated that the WB is worried about the safety of flood victims and would cooperate with the central and provincial governments to rehabilitate them.
It is vital to note that Pakistan is dealing with the worst flood in the country’s history, with millions affected. The government and the United Nations (UN) have urged the international community to increase their efforts to assist Pakistan in resolving its issues. PM Shehbaz also emphasised the affectees’ plight during a recent visit to New York to attend the United Nations General Assembly (UNGA) summit.
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.
