WB to provide $1.3b to Pakistan

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The World Bank (WB) said on Wednesday that it was planning to provide Pakistan $1.3 billion for emergency, agriculture and housing relief in the wake of catastrophic floods this year, according to a press release issued by the Ministry of National Food and Security.

The funds will be released after approval from the international lender’s board meeting in December, World Bank Regional Director for Sustainable Development John A Roome said in a meeting with Federal Minister for National Food Security and Research Tariq Bashir Cheema.

Separately, the World Bank has also agreed to provide the country with financial support for subsidising urea for flood-affected farmers.

During the meeting on Wednesday, Cheema informed the delegation that the recent floods and rain had resulted in colossal losses for the farming community. “We are trying our utmost to provide relief and assistance to poor farmers and help them in rehabilitation,” he said.

While appreciating the support extended by the World Bank for flood relief and rehabilitation of the affected farmers, the minister said that the natural calamity was unforeseen.

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