ADB announces $3m aid for flood victims

MANILA: The Asian Development Bank (ADB) on Wednesday approved a grant of $3 million to support the emergency relief efforts in Pakistan amid disastrous floods across the country.

In a statement, the global lender said the amount would be financed from the Asia Pacific Disaster Response Fund (APDRF) and would help the government of Pakistan purchase food supplies, tents and other relief goods on an immediate basis to support flood victims across the country.

APDRF is a special fund designed to fast-track grants to ADB developing member countries affected by disasters triggered by natural hazards. “ADB stands with the people of Pakistan during these difficult times,” ADB Director General for Central and West Asia Yevgeniy Zhukov was quoted as saying in the statement. “We are committed to working with the government and other development partners to help Pakistan overcome the devastating impact of this natural disaster and provide immediate relief to affected families.

“Our team is also helping to assess the damage caused by floods to draw up plans to support longer term rehabilitation efforts and strengthen communities’ climate resilience,” added ADB Country Director for Pakistan Yong Ye.

He said that Pakistan had identified several priority needs including food security, agriculture and livestock, health, water, sanitation, hygiene, shelter and nonfood items.

He announced that ADB was coordinating with other partners to support Pakistan’s response, including through the ADB-supported National Disaster Risk Management Fund created to strengthen Pakistan’s climate and disaster risk resilience and to efficiently channel funds to support local authorities’ disaster resilience work. “ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty,” a statement from ADB said.

Meanwhile on his official Twitter account, ADB President Masatsugu Asakawa said “the news out of Pakistan is extremely distressing. My thoughts are with the victims and families affected by the severe floods.”

“I have assured the government that ADB stands with them in these hard times and will continue our support to build resilience, mitigate impact of climate crisis,” he said. Monsoon-induced devastating floods in Pakistan have affected nearly 33 million people as torrential rains triggered destruction in the northern and southern part of the country. They also caused major infrastructure damage.

The flooding comes at a time when the economy remains engulfed in high inflation and depleting forex reserves. Government officials have said that devastation due to floods would cost the Pakistan economy at least $10 billion.