Pakistan has appealed to the global community for $8 billion in three years to help it rebuild after devastating floods that left a third of the nation inundated in the summer.
(Bloomberg) — Pakistan has appealed to the global community for $8 billion in three years to help it rebuild after devastating floods that left a third of the nation inundated in the summer.
The South Asian nation needs a total of $16.3 billion to rebuild houses and farms along with rehabilitate people impacted by the floods, Prime Minister Shehbaz Sharif said at a conference in Geneva. The nation plans to fund the remaining half from its own resources.
“I am asking for your support for those who have lost their life savings, their homes and livelihoods,” said Sharif at the conference co-hosted by Pakistan and the United Nations. “For those who are sitting under the blue sky facing the harshness of winter.”
Pakistan’s floods in the summer killed more than 1,700 people and cut the nation’s growth by half. The United Nations has previously said the global community hasn’t provided enough funds after the floods.
The nation is also open to debt swaps and other financial instruments with friendly countries that will help free up resources to spend on flood-related activities, said finance minister Ishaq Dar.
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