Pakistan secures $400 million loan from ADB for Sindh infrastructure reconstruction
The Asian Development Bank (ADB) has approved a $400 million concessional loan to support the reconstruction of homes and community infrastructure in Sindh province, which was heavily affected by the 2022 floods.
The loan will be used for the Sindh Emergency Housing Reconstruction Project, aimed at repairing flood-damaged homes and community facilities, aiding livelihood recovery, and enhancing the province's resilience to climate change-induced natural disasters.
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This initiative is part of ADB’s broader response to Pakistan’s flood crisis and forms a segment of its $1.5 billion aid commitment for the period between 2023 and 2025.
ADB Director General for Central and West Asia, Yevgeniy Zhukov, stated, “This project will assist in rebuilding homes and communities, restoring livelihoods, and reinstating basic services in Sindh, the province hardest hit by the 2022 floods. It represents ADB’s comprehensive support for Pakistan’s recovery from the disaster, which impacted 33 million people and caused widespread damage to housing and infrastructure.”
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The statement highlighted that Sindh experienced over 83% of the total housing damage from the 2022 floods, with around 2.1 million homes either destroyed or severely damaged. Two years later, many survivors continue to live in inadequate, makeshift shelters, lacking essential amenities such as electricity, water, and sanitation facilities, according to ADB.
Source: MM News