Pakistan and Asian Development Bank have signed five Financing Agreements worth 775 Million dollars to support recovery and reconstruction efforts in the flood-affected areas of Balochistan, Khyber Pakhtunkhwa and Sindh.

Minister for Economic Affairs Sardar Ayaz Sadiq witnessed the signing of five Financing Agreements.

These projects will support reconstruction and rehabilitation of irrigation and drainage structures, flood risk and on-farm water management, as well as improving power and transport infrastructure in the flood-affected provinces.

The agreements also include a project to improve access to quality employment for skilled workers in Punjab.

Speaking on the occasion, Sardar Ayaz Sadiq said the Post Disaster Needs Assessment Report, launched in November this year, estimates requirement of 16.3 billion dollars for reconstruction efforts.

ADB’s Director General for Central and West Asia Department Eugene Zhukov expressed that ADB has approved and committed financing of 2.67 billion dollars to Pakistan during 2022. He said ADB will continue to support Pakistan’s development priorities and stands committed to support Pakistan for a green, resilient and sustainable recovery.

Source: Radio Pakistan