Printer Friendly

Box Item - Post-floods Aid and ADB.

The Asian Development Bank has extended $650 million in emergency assistance loans to help Pakistan rebuild vital infrastructure destroyed during last year's floods. The financial assistance provided under the Flood Emergency Reconstruction Project (FERP) will go towards rebuilding damaged national and provincial road networks, irrigation systems, and flood protection structures, kick-starting economic and livelihood activities. ADB will also provide $4 million grant for capacity-building technical assistance to strengthen implementation and oversight of the project. The FERP will reconstruct 793 km of national highways and bridges and 800 km of provincial road networks to multiple hazards resistant standards. The project will also improve 1.5 million hectares of agricultural land by restoring and strengthening flood protection embankment, rehabilitating canals and other allied infrastructure.

In addition, ADB as a part of its overall post-flood support, increased the trade finance facility to Pakistan by $500 million, providing extra cover to emergency imports and exports during the reconstruction period, and also contributed $3 million grant to enable the National Disaster Management Authority to respond to existing and future emergencies and disasters in an effective manner.

COPYRIGHT 2011 Asianet-Pakistan
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:South Asia
Date:May 31, 2011
Previous Article:The Development Challenge.
Next Article:ADB provides Innovative Services.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters