July 26, 2024
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- As a component of the Sindh Emergency Housing Reconstruction Project, the loan was given.
- ADB's multifaceted response to Pakistan's flood calamity includes this project as a crucial component.
- About 83% of all homes lost as a result of the 2022 floods were in Sindh.
MANILA: The $400 million concessional loan from the Asian Development Bank (ADB) was granted today for the restoration of homes and community infrastructure in Sindh, which was severely damaged by floods in 2022.
Under the Sindh Emergency Housing Reconstruction Project, livelihoods will be supported while flood-damaged homes and community infrastructure are restored, with an emphasis on enhancing communities' ability to withstand natural disasters brought on by climate change.
In order to expedite Pakistan's flood recovery, the Asian Development Bank (ADB) has committed to providing a total of $1.5 billion in assistance between 2023 and 2025.
This project is a crucial component of ADB's multifaceted response to the country's flood catastrophe. "This project will help rebuild homes and communities, as well as livelihoods and basic services, in Sindh province, which was hardest hit by the devastating floods in 2022," said Yevgeniy Zhukov, director general of the ADB for Central and West Asia.
"This is part of ADB's broader support to help Pakistan recover from the disaster that affected 33 million people and damaged homes and infrastructure across the country."
With over 2.1 million homes either totally demolished or severely damaged, Sindh bore about 83% of the total house losses resulting from the 2022 floods.
Many victims are still residing in subpar, temporary shelters devoid of basic amenities like electricity, water, and sanitary facilities two years later.
As part of its integrated and sequential strategy, the plan will complement government initiatives across sectors and align with the Resilient Recovery, Reconstruction and Recovery Strategy (4RF).
The government's operational capacities in the areas of procurement, security compliance, and technical and financial management would be strengthened by a grant of $500k for technical help.
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