Archive · Business Recorder
ADB approves $500mn funding to strengthen Pakistan's disaster resilience
The Asian Development Bank (ADB) has approved contingent disaster financing (CDF) facilities totalling $500 million under its policy-based lending to help Pakistan to withstand and respond to disasters. The CDF will provide prompt budget support following eligible disaster events to help reduce the economic and fiscal impacts, read a statement on Wednesday. According to the statement, floods, earthquakes, and other disasters cause Pakistan an estimated $2 billion in annual average losses. “The 2022 floods alone caused $14.9 billion in direct damage and $15.2 billion in economic losses, pushing...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →