Pakistan to receive $554 million in funding package from the Asian Development Bank and Japan for recovery and reconstruction efforts in flood affected areas, as well as to increase the country’s resilience to natural disasters and climate change.
The funding includes a $475 million loan and a $3 million technical assistance grant from the Asian Development Bank, as well as a $5 million grant from the government. of Japan.
According to the ADB statement, the funding will support recovery of irrigation, drainage, flood risk control, on-economic water management and transport infrastructure in in flood-affected areas of Balochistan, Khyber Pakhtunkhwa and Sindh.
The Asian Development Bank redirected an additional $71 million of existing loans to support in governments flood- response efforts.
