World Bank approves $450 million for Sindh flood recovery

Banking & Financial Services
Webp w9n2d5hbyq14rfjmlb6cmoatu2sc
Ajay Banga 14th President of the World Bank Group | Official Website

ISLAMABAD, December 24, 2024—The World Bank has approved an additional $450 million for the Sindh Flood Emergency Housing Reconstruction Project. This funding aims to support housing reconstruction for those affected by the 2022 floods in Sindh Province.

This new financial aid builds on a previous $500 million project from December 2022, which helped reconstruct over 410,000 core housing units. The additional funds will expand these efforts to cover at least another 360,000 eligible beneficiaries and provide at least 30,000 water, sanitation, and hygiene (WASH) facilities.

"Building resilience to natural disasters and climate shocks through strengthening physical infrastructure, particularly for the most vulnerable has been a key element of the World Bank’s support in flood-affected areas of Sindh Province," said Najy Benhassine, World Bank Country Director for Pakistan. "This additional financing will also strengthen efforts at providing and improving safely managed water, sanitation, and hygiene services which play a critical role in preventing water-borne diseases which contribute to the high rates of child stunting in the province."

The project prioritizes vulnerable households such as single or widowed women, the elderly, persons with disabilities, and the ultra-poor. It encourages their involvement in housing construction through community engagement and financial inclusion initiatives. Eligible beneficiaries will receive grants up to PKR 50,000 for housing improvements tailored to specific needs.

"The additional financing aims to extend the benefits of the parent project," said Kamran Akbar, Task Team Leader of the project. "It will also train masons with multi-hazard housing reconstruction standards...empowering the vulnerable population through provision of safe shelter."

Support from The Global Facility for Disaster Reduction and Recovery (GFDRR) includes post-disaster needs assessment and technical assistance aimed at advancing resilient recovery and climate adaptation in Sindh.

The World Bank has been involved with Pakistan since 1950. To date it has provided over $48.3 billion in assistance across various projects.