World Bank offers $ 900 million to Pakistan

Washington, Aug 17: The World Bank approved Pakistan's request and it would provide financial aid to the massive flood effected country with $ 900 million.

"The Government of Pakistan has requested around $ 900 million of financial support from the World Bank, which we have committed to provide," stated the World Bank.

The funding would come from the Bank's Fund for the poorest through reprogramming of currently planned projects and reallocation of disbursed funds from ongoing projects.

Pakistan asked World Bank and Asian Development Bank (ADB) on Aug 11 to provide money for assessment of the flood effected areas.

"If there is no fresh wave of flooding, the assessment can be completed by Oct 15," the Bank said.

According to Pakistan's National Disaster Management Authority (NDMA), the current floods have now affected over 14 million people in the country.

OneIndia News