The Asian Development Bank in its annual report pointed out that in the Year 2022 had released maximum funds to Pakistan, reported 24NewsHD TV channel.
The ADB and the partners, according to the annual report, allocated $5.5 billion for a raft of projects in Pakistan. Moreover, another $2.6 billion concessional loans were also approved for Pakistan.
The Asian Development Bank overall made 31.8 billion dollars project financing in Asia, the bank’s annual report stated.
Devastating floods had inflicted maximum loss to the economy in Pakistan in 2022. These unprecedented floods damaged crops and disbalanced the demand and supply in the country, the report said.
“Destruction of crops also hiked prices in local markets,” according to the ADB report, adding “The conflict between Russia and Ukraine caused further inflation at the global level.”
“Pakistan required the experts on climate change to avoid losses inflicted by the change in weather patterns,” ADB report stated, adding “The ADB is providing services of the experts to the country to avoid hazards of rapid changes in climate.”
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“Unprecedented floods in Pakistan claimed 1,730 human lives and affected 33 million people across the country,” ADB said in its report. “The flood inflicted 30 billion dollars losses to the national economy,” the report stated.
“Around 16 billion dollars were pledged for rehabilitation of the flood-hit areas,” the ADB said and added “$1.5 billion provided to the country for rehabilitation of the flood-affected areas”.
The bank in its report said that a project on women’s health has been underway in Khyber Pakhtunkhwa province of Pakistan.
Reporter Waqas Azeem