Pakistan secures pledges of $6.2bn from World Bank, Idb at Geneva conference
The Islamic Development Bank (IDB) and the World Bank have pledged a
total $6.2 billion to rebuild a climate-resilient Pakistan.
The
pledges were made at the International Conference on Climate Resilient Pakistan
co-hosted by Prime Minister (PM) Shehbaz Sharif and United Nations Secretary-General
(UNSG), Antonio Guterres in Geneva.
Addressing the conference, President of Islamic
Development Bank Muhammed Al-Jasser said the Islamic Development Bank Group had
pledged funding of $4.2 billion over the next three years.
Moreover, the
World Bank also announced a donation of $2 billion to support the
reconstruction and rehabilitation of flood-ravaged Pakistan.
Taking to Twitter, Information Minister Marriyum Aurangzeb
confirmed that the Islamic Development Bank had pledged $4.2bn while World Bank
President for South Asia Martin Raiser had pledged $2bn.