Staff Report
GENEVA: Pakistan’s Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, on Monday said that international donors had so far committed US$10.7 billion to support Pakistan in building back the infrastructure damaged by the devastating flash floods and torrential rains.
This conference has proved to be a huge success for Pakistan as the country receives pledges more than expected, Ahsan Iqbal said on the side lines of the International Conference on Climate Resilient Pakistan Conference in Geneva.
Prime Minister Shehbaz Sharif and his team’s extraordinary efforts in taking the case of Pakistan’s devastation at the international level resulted in unprecedented success, Ahsan Iqbal said.
“I also thank the President of the United Nations who effectively presented Pakistan’s loss and challenge before the world,” he said.
Ahsan Iqbal congratulated the Pakistani nation for managing in getting a big success for the country on the international front.
Global support for flood rehabilitation, reconstruction
“Now, in the next phase, with the help of the pledged funds, we will start a new journey of reconstruction and rehabilitation, build new infrastructure, help our people rehabilitate their houses, and will try to bring the country out of the crisis as soon as possible which it had to face in the wake of climate change-induced disasters,” he added.
The minister said the Post-Damage Needs Assessment (PDNA) — conducted jointly by the Government of Pakistan and its international development partners, including the World Bank, the Asian Development Bank, the European Union, and UN relief agencies, in October — has estimated the aggregate cost of the calamity at $30.1 billion.
This includes $14.9 billion in damages to infrastructure and $15.2 billion in economic losses. The minimum needs identified for recovery, rehabilitation and reconstruction are estimated at $16.3 billion.
He said out of the total $16.3 billion, Pakistan’s government would spend 50% of its resources, while it has requested the international community to help Pakistan with $8 billion during the next three years “so that we can rebuild our damaged infrastructure in the shortest possible time.”
The pledges so far made include the European Union (EU) pledged $93 million, Germany’s $88 million, China’s $100 million, IsDB (Islamic Development Bank) $4.2 Billion, WB (World Bank) $2 billion, Japan’s $77 million, ADB (Asian Development Bank) $1.5 billion, USAID $100 million, France $345 million, total $8.57 billion.
