ISLAMABAD – The World Bank and the Asian Development Bank (ADB) on Wednesday approved a $775 million loan for Pakistan to help the government provide cash transfers to more than a million flood-affected households.
According to an ADB statement, the bank’s board of directors approved the loan, along with a supporting technical assistance grant, for the Flood Emergency Reconstruction Project. The loan will be used to reconstruct damaged roads, bridges, irrigation systems, as well as flood and drainage protection works in the worst affected areas.
Meanwhile, a statement issued by the WB said the project – directed towards the government’s Citizen’s Damage Compensation Programme (CDCP) in providing the cash transfers – would strengthen the programme’s management through effective grievance redressal mechanisms and establishing control and accountability measures to ensure efficient and transparent delivery of the support.
