Pakistan Secured Over $10 Billion Pledges in Geneva Conference

During an international conference on climate resilience on Monday, Pakistan obtained over $10 billion in promises from international financial institutions, donor agencies, and development partners for the rehabilitation, recovery, and reconstruction of flood-affected areas.

According to the state news agency, major pledges included $4.2 billion from the Islamic Development Bank (IsDB), $2 billion from the World Bank, $1.5 billion from the Asian Development Bank (ADB), $1 billion from the Asian Infrastructure Investment Bank (AIIB), and $1 billion from Saudi Arabia at the conference, which was co-chaired by Pakistan and the United Nations in Geneva, Switzerland.

At a meeting in Geneva, Pakistan’s delegation was led by Prime Minister Muhammad Shehbaz Sharif, who provided a detailed explanation of Pakistan’s framework for resilient recovery, rehabilitation, and reconstruction (4RF)