Govt decides to seek assistance from financial institutions for rehabilitation of flood victims

• On behalf of the government, the report of the Ministry of Planning, Ministry of Finance, and NDMA will be sent to the financial institutions
• According to the initial estimates, the country’s economy has suffered more than 10 billion dollars loss
• Financial assistance will be requested from the IMF under the Rapid Financing Instrument (RFI)

Islamabad-The federal government has decided to seek assistance from international financial institutions like the World Bank, Asian Development Bank, International Monetary Fund (IMF), and others for the rehabilitation of flood victims.

On behalf of the government, the report of the Ministry of Planning, Ministry of Finance, and National Disaster Management Authority (NDMA) will be sent to the financial institutions, and requests will be made for assistance from these institutions due to the flood damages.

According to the sources of the Ministry of Finance, a report has been prepared based on preliminary estimates of the losses due to floods, according to which, the initial estimates, the country’s economy has suffered more than 10 billion dollars loss.

Apart from this, the flood has caused damage to agriculture and infrastructure, while more than 33 million people in the country and more than 1 million houses have also been damaged due to the recent rains and floods.

Keeping this report in mind, financial assistance will be requested from the IMF under the Rapid Financing Instrument (RFI), while financial assistance is likely to be received from the financial institutions according to the allotted quota.

Earlier, President Dr Arif Alvi has appealed to the entire nation, Overseas Pakistanis and the international community to come to the aid of flood victims who are in dire need of rescue, relief and rehabilitation due to the unprecedented rains and floods which has destroyed the lives and livelihood of people across Pakistan.

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