Islamabad-SANA
Pakistani Finance Minister Ishaq Dar affirmed that the latest estimates indicate that his country will urgently need more than 16 billion dollars to recover after the devastating floods that swept it recently.
And the French Press Agency quoted Dar as saying in a statement that a new study partially funded by the World Bank and the Asian Development Bank concluded that Pakistan suffered losses as a result of the floods amounting to 32.4 billion dollars, and it will need 16.2 billion dollars for reconstruction and rehabilitation, adding: “With this The challenge is obviously that we have to go back to square one to allocate the necessary funding.”
Dar indicated that there may be a need to introduce some small adjustments to the financing programs, adding: "But everything is in order, pending the next review by the International Monetary Fund, which may release more money."
He continued, "We expect the donors' conference to be held next November, where we hope that it will help Pakistan in obtaining its immediate and long-term needs."
In late August, the International Monetary Fund released a $1.1 billion grant to Pakistan as part of a $6 billion package reached in 2019.
It is noteworthy that Pakistan is the fifth most populous country in the world, and this year witnessed unprecedented monsoon rains and floods that engulfed about a third of the country and inflicted heavy human and material losses.
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