ISLAMABAD – The World Bank (WB) approved a $430m loan September 30 for Pakistan flood recovery projects, said Rachid Benmessaoud, WB country director for Pakistan.
A $300m loan will help pay for imports of food, medicine, tents, fuel and machinery for flood victims. Another $130m will help repair damaged roads.
The funds were part of the Bank's $1 billion commitment to Pakistan for this fiscal year, Benmessaoud said.
The WB’s preliminary figures indicate the flooding destroyed or damaged more than 1.8m homes and displaced more than 8m people.
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