Islamabad: The World Bank has announced a commitment of USD 2 billion to support Pakistan in its recovery from the devastating 2022 floods, with a substantial portion earmarked for rehabilitation and resilience-building projects across various provinces. The announcement was made during a media briefing on October 9, outlining a comprehensive strategy for deployment of the funds.

According to Zameen.Com, World Bank Country Director Najy Benhassine, at the 2023 Donors Conference in Geneva, detailed that USD 1.55 billion will be directed towards new projects to enhance resilience, alongside allocations for immediate response and ongoing reconstruction efforts. Ahsan, a representative of the World Bank, further broke down the fund allocation, revealing that USD 454 million has been accessed through existing projects, including USD 277 million for immediate response and USD 177 million for reconstruction and rehabilitation efforts.

Significantly, USD 213 million of the new funding is designated for reconstruction and resilience in Balochistan, despite the fact that housing reconstruction disbursements in the region have yet to begin. Officials noted the complexity of implementation, with only 104 bank accounts opened so far for the estimated 250,000 to 280,000 affected individuals in Balochistan. They stressed that while progress might be slow, advancements are underway.

In contrast, recovery efforts in Sindh have progressed more rapidly, with USD 22 million already disbursed for housing reconstruction and a total of USD 270 million allocated to flood-affected individuals in the region. The Sindh Flood Emergency Housing Reconstruction Project, with a budget of USD 500 million, aims to provide resilient housing solutions in the hardest-hit districts. The Asian Development Bank and the Islamic Development Bank have also contributed with pledges of USD 400 million and USD 200 million, respectively.

The World Bank’s initiatives not only focus on immediate and short-term needs but also aim to strengthen the capacity of the Government of Sindh to address climate change and natural disaster challenges through the Sindh Flood Emergency Rehabilitation Project valued at another USD 500 million.