Bank to provide $2.5 billion to flood-ravaged Pakistan

KIFI

Published October 5, 2022 12:23 PM

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — Pakistan’s Finance Ministry says the Asian Development Bank will provide $2.5 billion in aid to the impoverished flood-affected country, where climate-induced deluges of rain have killed nearly 1,700 people since-mid- June. It will be the largest financial assistance for Pakistan so far after the World Bank last month pledged $2 billion in aid. Pakistan’s Finance Ministry said in a statement Wednesday that the ADB’s country director, Yong Ye, announced the aid package at a meeting with Pakistan’s newly appointed Finance Minister Ishaq Dar. Pakistan says the record-breaking floods have caused at least $30 billion in damage.

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