ISLAMABAD: The Asian Development Bank (ADB) has approved the assistance of more than $ 220 million to help Pakistan rebuild and improve roads, bridges and other high-priority infrastructure damaged by the devastating 2014 floods.
“Pakistan is highly dependent on agriculture and related prone to flooding and other extreme weather events-such as the current wave of intense heat, and these will worsen due to climate change,” said Donneth Walton, Principal Natural Resources and Agriculture Specialist Centre ADB Department of West Asia.
“This aid will contribute to a better approach to building back with multi-hazard-resistant infrastructure built in the restored features.”
September 2014 floods displaced more than 2.5 million people in 44 districts and damaged more than 445 000 hectares of farmland, causing serious difficulties for nearly a quarter of a million farmers.
An evaluation report of the floods in 2014 estimated recovery needs about $ 440 million, including $ 56 million to build the resilience of the affected population and their productive assets.
The loan from the Asian Development Bank will be used to rebuild the critical infrastructure in the hardest hit areas of Punjab province and districts Haveli, Kotli and Poonch.
The restored infrastructure will be built to support future extreme weather events. A donation of $ 2 million technical assistance will be extended to increase the capacity of disaster monitoring agencies to plan and manage future disasters.
ADB assistance will complement the relief efforts by other development partners. It will also allow the Government of Pakistan to redirect its finances for cash grants for housing and livelihoods of vulnerable groups, which will help restore economic activity in the affected areas.
The project will be implemented over three years with a projected completion date of June 2018.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Founded in 1966, it is owned by 67 members – 48 from the region.
In 2014, the ADB assistance totaled $ 22.9 billion, including co-financing of $ 9,200 millones.e Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.
In 2014, ADB assistance Totaled $ 22.9 billion, Including cofinancing of $ 9.2 billion.