Islamabad, JULY29: The Asian Development Bank (ADB) has authorized a USD 400 million concessional loan to support the rebuilding of 250,000 homes and community infrastructure in Sindh, Pakistan.
According to specifics, this money is a component of ADB’s larger USD 1.5 billion commitment made between 2023 and 2025 to expedite Pakistan’s recovery from flooding. The Sindh Emergency Housing Reconstruction Project seeks to improve community resilience against climate change, accelerate livelihood recovery, and restore homes and infrastructure devastated by flooding. This is a critical project for Sindh, which suffered 83% of the flood-related building damage, resulting in almost 2.1 million damaged or destroyed houses. Numerous victims continue to reside in subpar shelters without access to basic amenities.
In addition, the project would provide funding for the development of renewable energy sources, sanitary facilities, and drinking water facilities in 1,000 villages that were impacted by flooding. It will also provide assistance for small businesses, e-commerce, livestock, and agriculture.
ADB Director General Yevgeniy Zhukov stated, “ADB’s assistance will not only help rebuild homes and restore services but also strengthen climate resilience and disaster preparedness in Sindh.” The project comprises a USD 500,000 technical assistance grant to improve operational capabilities, procurement, and management, and it is in line with Pakistan’s 4RF plan.
This initiative is a crucial part of the massive assistance that the Asian Development Bank (ADB) is providing to Pakistan in its efforts to aid in the nation’s recovery from the floods that devastated the country and left 33 million people without power.
