Sunday, June 23, 2024
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Pakistan Secures Over $10 billion Aid at Geneva Conference

At the Geneva Conference, in 2023, Pakistan secured more than $10 billion aid for its recovery from last year’s devastating floods.

The pledges came as the International Conference on Climate Resilient Pakistan commenced in Geneva. Prime Minister Shehbaz Sharif co-hosted the international conference along with United Nations Secretary General Antonio Guterres.

Heads of state and other stakeholders attended the conference and shows support to rehabilitate the population affected by floods.

PM Shehbaz sought over $10 billion aid from Pakistan’s international partners over the next three years to rebuild the country.
Information Minister, Maryam Aurangzeb said the first plenary of the conference concludes with a generous outpouring from international community.

“The European Union pledged $93 million, Germany $88m, China $100m, Islamic Development Bank $4.2 billion, World Bank $2bn, Japan $77m, Asian Development Bank $1.5bn, USAID $100m, France $345m,” she said on Twitter.

Shehbaz Sharif stated in the conference that Pakistan witnessed a “monsoon on steroids this year”. Floods affected 30m people and displaced more than 8 million people.

“One can go on and on but to truly say, we are racing against time. We are thankful for the support extended to us by the Asian Development Bank, UN, International Monetary Fund (IMF), and several other international organizations,” he added.

Prime Minister said that their government is working on a plan for rehabilitation, recovery, and reconstruction of the country.

“The first part of the plan reflects the recovery and reconstruction, bearing in mind that the minimum funding of $16.3bn is required, half of which will be met with domestic resources, half from foreign resources.”

The whole world and especially Pakistan is facing a huge issue of Climate Change. Floods affected the country heavily, displaced millions of people, and destroyed a lot of infrastructure. So at this point, aid from the international; community will be a big relief to the people of Pakistan.

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