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World Bank will redirect loans for flood recovery in Pakistan
Source: Agencies |
August 17, 2010, Tuesday
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THE World Bank said yesterday it will redirect US$900 million of its existing loans to Pakistan to help in flood recovery, as the United Nations warned that many of the 20 million people affected by the disaster have yet to receive any emergency aid.
The floods began three weeks ago but the crisis could yet worsen, with authorities warning that the swollen Indus River may burst its banks again in coming days.
Pakistan's shaky government has been sorely tested by the disaster, which has affected about a fifth of the area of the vast country of 170 million people. It comes atop a pile of other challenges including a weak economy and a violent Islamist insurgency.
Pakistani President Asif Ali Zardari acknowledged yesterday that the government had responded poorly to the widespread flooding. Zardari's reputation sank to new lows after he chose to visit Europe as the crisis was unfolding.
"Yes, the situation could have been better. Yes, the arrangements could have been made better. Yes, everything could have been better. Alas! If we could have those resources," he told local aid groups in a meeting. "We have to move forward despite whatever criticism we get."
Local charities and international agencies have rushed food, water, shelter and medical treatment to the worst-hit areas in the northwest and Punjab and Sindh provinces. But aid agencies and the British government have complained that the international response to the disaster has not been generous enough.
The UN appealed last week for US$459 million for immediate relief efforts. It has received about US$184 million so far, said Maurizio Giuliano, a UN spokesman. An additional US$43 million has been pledged.
"We would like our pledges to turn into checks as soon as possible because the situation is getting very bad," Giuliano said.
The World Bank said the funds it is offering are to help Pakistan recover from the floods and would be redirected from ongoing and planned projects in the country. With huge destruction of roads and bridges and crops wiped out in many areas, authorities expect reconstruction to take years and cost billions.
For now, many victims live in makeshift camps alongside their livestock or in flooded towns and villages.
"The vast geographical extent of the floods and affected populations meant that many people have yet to be reached with the assistance they desperately need," the UN said in a statement.
The floods have killed about 1,500 people and inundated 700,000 hectares of wheat, sugar cane and rice crops.
The floods began three weeks ago but the crisis could yet worsen, with authorities warning that the swollen Indus River may burst its banks again in coming days.
Pakistan's shaky government has been sorely tested by the disaster, which has affected about a fifth of the area of the vast country of 170 million people. It comes atop a pile of other challenges including a weak economy and a violent Islamist insurgency.
Pakistani President Asif Ali Zardari acknowledged yesterday that the government had responded poorly to the widespread flooding. Zardari's reputation sank to new lows after he chose to visit Europe as the crisis was unfolding.
"Yes, the situation could have been better. Yes, the arrangements could have been made better. Yes, everything could have been better. Alas! If we could have those resources," he told local aid groups in a meeting. "We have to move forward despite whatever criticism we get."
Local charities and international agencies have rushed food, water, shelter and medical treatment to the worst-hit areas in the northwest and Punjab and Sindh provinces. But aid agencies and the British government have complained that the international response to the disaster has not been generous enough.
The UN appealed last week for US$459 million for immediate relief efforts. It has received about US$184 million so far, said Maurizio Giuliano, a UN spokesman. An additional US$43 million has been pledged.
"We would like our pledges to turn into checks as soon as possible because the situation is getting very bad," Giuliano said.
The World Bank said the funds it is offering are to help Pakistan recover from the floods and would be redirected from ongoing and planned projects in the country. With huge destruction of roads and bridges and crops wiped out in many areas, authorities expect reconstruction to take years and cost billions.
For now, many victims live in makeshift camps alongside their livestock or in flooded towns and villages.
"The vast geographical extent of the floods and affected populations meant that many people have yet to be reached with the assistance they desperately need," the UN said in a statement.
The floods have killed about 1,500 people and inundated 700,000 hectares of wheat, sugar cane and rice crops.
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