Staff Report
ISLAMABAD: The Asian Development Bank (ADB) will reprioritize up to 1 billion US dollars for climate and disaster risk reconstruction as well as resilient support over the next 3 years for Pakistan.
It was announced by ADB Vice President Shixin Chen at the International Conference on Climate Resistant Pakistan 2023 in Geneva on Monday.
He said that ADB has acted swiftly to assist Pakistan’s flood response. Beyond the contribution to the Post-Disaster Needs Assessment (PDNA) and the government’s Resilient Recovery, Rehabilitation, and Reconstruction Framework (4RF), it approved a 557 million dollars emergency flood-assistance package to the country on top of a 1.5 billion dollar countercyclical program, which too partially supports food security and social protection in flood-hit areas.
In the meantime, sizeable additional co-financing has also been mobilized.
Key sectors of support include natural and agricultural resources, health, urban services, social protection, and public financial management.
ADB welcomes efforts of development partners
He said that Asian Development Bank welcomes the continued efforts with development partners on co-financing to increase the impacts of its support to Pakistan.
He congratulated Pakistan on the timely preparation of the 4RF derived from the PDNA, which proved strong leadership of the Pakistani government with the joints efforts of development partners.
