ISLAMABAD       -   World Bank is envisaging financing of about $2 billion for Pakistan for the reconstruction and rehabilitation of flood-affected areas and to strengthen Pakistan’s resilience to climate-related risks.

“As immediate response, we are repurposing funds from the existing World Bank-financed projects to support urgent needs in health, food, shelter, rehabilitation, and cash transfers,” said World Bank’s new Vice President for the South Asia Region, Martin Raiser after concluding his first official visit to Pakistan.

He also said that in addition to this, we are working with the federal and provincial authorities to prepare emergency operations to quickly start the reconstruction and rehabilitation to rebuild or repair infrastructure, housing and restore livelihoods, and to help strengthen Pakistan’s resilience to climate-related risks. We are envisaging financing of about USD 2 billion to that effect.

He reaffirmed the Bank’s commitment to support the people of Pakistan in the wake of catastrophic flooding.

“We are deeply saddened by the loss of lives and livelihoods due to the devastating floods and we are working with the federal and provincial governments to provide immediate relief to those who are most affected,” said Martin Raiser.