Belgium, (Brussels Morning Newspaper) The EU has pledged 87 million euros for Pakistan to help it recover from last year’s floods, with international donors pledging more than USD 8 billion in total.
Islamabad estimates that Pakistan will need approximately USD 16.3 billion to recover from the floods and called on the international community to provide half of that amount, according to Reuters reported on Monday.
Pakistan faced heavy floods in the monsoon season last year that killed more than 1,700 people.
Marriyum Aurangzeb, Pakistani Minister for Information and Broadcasting noted that pledges exceeded USD 8.5 billion on Monday, which is more than Islamabad initially sought.
IsDB provides nearly half
The Islamic Development Bank (IsDB) pledged USD 4.2 billion, followed by the World Bank (WB) with 2 billion and the Asian Development Bank (ADB) with 1.5 billion.
António Guterres, UN Secretary-General, accused the global financial system of being “morally bankrupt” and biased towards wealthy countries, calling for flood relief.
“No country deserves to endure what happened to Pakistan,” he stated and concluded, “we must match the heroic response of the people of Pakistan with our own efforts and massive investments to strengthen their communities for the future.”
United Nations Development Programme (UNDP) head Achim Steiner stated that Pakistan was “a victim of a world that is not acting fast enough on the challenge of climate change.”
He pointed out that Pakistan accounts for nearly 3% of the total world population and approximately 1% of global greenhouse gas emissions.
IsDB president Muhammad Al Jasser noted that the bank’s pledge will help Pakistan to achieve “climate resilience and development objectives.”
The EU pointed out in a statement that its contribution will help Pakistan to strengthen “green inclusive growth and employable skills,” and French President Emmanuel Macron noted that the country’s pledge will support Pakistan’s efforts to adapt to climate change and rebuild.
Germany pledged 67 million euros, France pledged 10 million in emergency aid and announced an injection of 360 million into its development agency to help Pakistan, and a senior official from the US Agency for International Development (USAID) announced the agency would provide USD 100 million to Pakistan.
