ADB approves 400 mln USD loan to Pakistan-Xinhua

ADB approves 400 mln USD loan to Pakistan

Source: Xinhua

Editor: huaxia

2024-07-26 19:52:45

MANILA, July 26 (Xinhua) -- The Asian Development Bank (ADB) approved 400 million U.S. dollars in concessional loan on Friday to support the reconstruction of houses and community infrastructure in Pakistan's southern Sindh province damaged by the devastating floods in 2022.

The ADB said the Sindh Emergency Housing Reconstruction Project will rehabilitate flood-damaged houses and community infrastructure and support livelihood recovery, focusing on strengthening communities' resilience against climate change-induced natural hazards.

According to the ADB, Sindh province sustained about 83 percent of the total housing damage inflicted by the 2022 floods, with around 2.1 million houses either fully destroyed or damaged.

Two years on, the ADB said many victims still reside in inadequate, temporary shelters lacking essential services such as water, sanitation, and electricity.

The project will support conditional cash grants for reconstructing 250,000 houses with multi-hazard resilient and environment-responsive designs.

It will also support the construction of infrastructure such as drinking water facilities, sanitation facilities, covered drainage, and renewable energy solutions for 100,000 households in around 1,000 flood-damaged villages in Sindh.

The project will also support conditional cash grants for livestock, agriculture, small enterprises, and e-commerce.