World Bank approves $300 million loan to Pakistan

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ISLAMABAD, 10 December, 2020, (TON): The World Bank has approved $300 million for Pakistan to build resilience to natural disasters and health emergencies in the southern Sindh province.

These investments, according to the bank, will bolster Pakistan's efforts to counter floods and droughts in Sindh, strengthen solid waste management in Karachi - the country’s commercial capital - and tackle recurrent urban flooding and public health emergencies in the city.

Statement issued by the bank's local office says “The Washington-based lender approved $200 million for the Sindh Resilience project and $100 million for the Solid Waste Emergency and Efficiency project.”

"Building resilience to natural disasters and health emergencies is an important and urgent agenda in Pakistan, that will help save lives and protect the economy," said World Bank Country Director for Pakistan Najy Benhassine.

"The establishment of Sindh Emergency Service will greatly enhance the government's responsiveness to natural disasters and emergencies, particularly in a megacity like Karachi where many lives are lost due to insufficient emergency medical services," said Ahsan Tehsin, task team leader for the Sindh Resilience project.

The project will strengthen linkages between disaster risk management and the health sector by establishing the Sindh Emergency Service to strengthen capacity for disaster preparedness and emergency response, including health crises such as COVID-19.

In June, Pakistan received $500 million from the World Bank and the Asian Development Bank each to prop up its economy that has taken a hit from the global coronavirus restrictions.

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