ADB Approves $554 Million financing for Flood relief

A $554 million financing package, including new and reallocated funds, has been approved to support recovery and reconstruction efforts in Pakistan following this year’s devastating floods and to strengthen the country’s disaster and climate resilience.

The financing, which includes a $475 million loan and a $3 million technical assistance grant from the Asian Development Bank (ADB), and a $5 million grant from the Government of Japan, will support the restoration of irrigation, drainage, flood risk management, on-farm water management, and transport infrastructure in the flood-affected provinces of Balochistan, Khyber Pakhtunkhwa, and Sindh.

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ADB’s Emergency Flood Assistance Project will also incorporate climate and disaster resilience measures into the design of the infrastructure. ADB has repurposed an additional $71 million from existing loans to support the government’s flood-response efforts