Asia Development Bank approved $554 Million for Pakistan

The Asian Development Bank (ADB) approved $554 million in financing to help Pakistan provide social protection, promote food security, and support employment for its people amid devastating floods.

According to the ADB, the amount will be spent on the rehabilitation of the damaged structures in Sindh, Balochistan, and KP.

The bank further said that of the total of $554 million, $475 million is a loan, $3 million is a technical grant, and $5 million is a donation from Japan for the flood victims.

Flood Relief

It may be noted that the Asian Development Bank (ADB) announced providing $2.3 to $2.5 billion to Pakistan for flood relief efforts.