Ministry of Planning, Development and Special Initiatives on Saturday asserted that the World Bank loan amounting to $400 million for flood relief in Pakistan is not in jeopardy and that pledges made by donors exceed the requirement.
In a statement issued Saturday, the Planning Ministry clarified that as per the financing agreement agreed in the 4RF (Rehabilitation and Reconstruction Framework), the external financing required is US$8.15 billion for three years.
The Ministry of Planning Development & Special Initiatives (PDSI) of Pakistan has issued a statement informing the public that the World Bank loan amounting to US$400 million for flood relief is not in jeopardy and that pledges made by donors exceed the requirement.
Against that requirement, Pakistan has successfully obtained pledges worth $10.9 billion, which is US$2.70 billion in excess of the requirement, the statement added.
The ministry further stated that it has so far approved 13 projects from CDWP/ECNEC worth $3 billion, which is way ahead of the yearly target.
Moreover, project identification against committed projects commitments by the donors is complete.
“The PDSI is committed to the timely and effective implementation of the 4RF to ensure that the flood-affected people are rehabilitated and reconstructed as early as possible,” read the statement.
The ministry claimed it has also established a robust mechanism for the implementation and monitoring of the 4RF.
In addition to this, a dashboard has also been prepared for the flood-related projects in collaboration with the Asian Development Bank (ADB) that will be functional by the end of this month and will provide real-time information on the progress and implementation of the projects.
“It will ensure transparency by making physical and financial progress accessible to all stakeholders,” said the planning ministry.
