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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2399

WB to provide US$ 400m credit to Pak for quake recovery

[b]WB to provide US$ 400m credit to Pak for quake recovery [/b]

By Iqbal Hussain Khan Yousafzai - Reporting from Islamabad

[b]Islamabad, 23 December, (Asiantribune.com):[/b] The World Bank would provide four hundred million dollar interest free credit to Pakistan for helping the country's emergency earthquake recovery and reconstruction programme in the quake hit areas.

An agreement to this effect was signed between the World Bank and the Government of Pakistan, on Thursday in Islamabad.

The programme includes reconstruction of Houses in the affected areas and provision of livelihood support to individual and families, through cash grants and other assistance.

The credit will support the Government of Pakistan’s efforts to reduce the immediate suffering and restore livelihoods; reconstruct housing; and help finance needed imports. This follows the Bank’s initial commitment of US$475 million in October as part of the institution’s overall pledge of US$1 billion for earthquake recovery.

The credit will support housing reconstruction (US$220 million), livelihood support (US$85 million), import financing (US$85 million), and capacity building (US$10 million), and also can make funds available for any financing gaps identified in other sectors such as social protection, health, education, agriculture, roads, water supply, and other infrastructure.

http://www.asiantribune.com/show_news.php?id=16527

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