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International donors had pledge to give Pakistan over $10b to help it recover from last year’s floods
Officials of the federal government on Thursday disclosed the conditions on which Pakistan had secured critical billions in flood reconstruction support in Geneva earlier this week.
Planning Ministry Secretary Syed Zafar Ali Shah on Thursday revealed that loans pledged at the International Resilient Climate Pakistan Conference by countries and international financial institutions would be provided at one percent interest rate.
“Pakistan will have to repay the proposed loan within 40 years,” the official said.
“Out of the $9.7 billion, only $2.8 billion are likely to be transferred to Pakistan this fiscal year,” he further said.
Islamabad, however, will not see the first of these dollars until next month.
It is pertinent to note that international donors, during the recently held Resilient Climate Pakistan, committed to give Pakistan over $10 billion to help it recover from last year’s devastating floods.
Donations pledged at the Geneva conference
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Officials of the federal government on Thursday disclosed the conditions on which Pakistan had secured critical billions in flood reconstruction support in Geneva earlier this week.
Planning Ministry Secretary Syed Zafar Ali Shah on Thursday revealed that loans pledged at the International Resilient Climate Pakistan Conference by countries and international financial institutions would be provided at one percent interest rate.
“Pakistan will have to repay the proposed loan within 40 years,” the official said.
“Out of the $9.7 billion, only $2.8 billion are likely to be transferred to Pakistan this fiscal year,” he further said.
Islamabad, however, will not see the first of these dollars until next month.
It is pertinent to note that international donors, during the recently held Resilient Climate Pakistan, committed to give Pakistan over $10 billion to help it recover from last year’s devastating floods.
Donations pledged at the Geneva conference
| Countries/Institutions | Donations pledge |
|---|---|
| Islamic Development Bank | $4.2 billion |
| World Bank | $2 billion |
| Asian Development Bank | $1.5 billion |
| Asian Infrastructure Investment Bank | $1 billion |
| Saudi Arabia | $1 billion |
| France | $38 billion |
| China | $100 million |
| US | $100 million |
| EU | $93 million |
| Germany | $88 million |
| Japan | $77 million |
| UK | $10 million |
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