Pakistan seeks $8B flood aid appeal at Geneva donors’ moot. Prime Minister Shehbaz Sharif stated in Geneva on Monday that Pakistan urgently needs $8 billion from international donors over the next three years to support the country’s economy, which was largely destroyed by heavy flooding from June to October 2022.
As Islamabad seeks assistance in what is anticipated to be a significant test case for who pays for climate disasters, representatives from over 40 countries have assembled in Geneva. These representatives are joined by private donors and international financial organisations.
At least 1,700 people were murdered and about 8 million were left homeless by last year’s floods, which are still subsiding.
Speaking at the ceremony, UN Secretary-General Antonio Guterres pleaded with the world to aid Pakistan in coping with the catastrophe brought on by catastrophic floods, saying “massive investments” are needed for the country’s rehabilitation which is expected to cost more than $16 billion.
He continued, “Pakistan is doubly victimised by climate instability and a morally depraved global financial system,” and urged developing nations to find innovative ways to get debt relief and financing.
Shehbaz Sharif, the prime minister, also introduced the “Resilient Recovery, Rehabilitation, and Reconstruction Framework” at the meeting (4RF).
The framework will emphasise the need for international cooperation and enduring partnerships in addition to outlining a vision for the rehabilitation and reconstruction of the flood-affected areas.
The prime minister demanded a comprehensive international strategy to tackle the difficult task of rebuilding and rehabilitating flood-affected communities and creating a Pakistan that is climatically robust.
He said a new lifeline was needed for our people to power our economy and reenter the 21st century with a future that is protected from extreme risks to human security.
The prime minister said together “we have to rebuild the lives and dreams of flood-ravaged people”.
Pakistan seeks $8B flood aid appeal at Geneva donors’ moot. PM Shehbaz said the international community’s solidarity and long-term support to Pakistan at this critical juncture would make the difference between staying unprepared or facing the future with renewed hope and aspirations.
“It is about the solidarity and vision needed to ensure the world’s transition to a sustainable future not on paper but on the ground in schools, in the fields, in business, in industries and in homes.”
“The first part of this plan reflects priorities for recovery and reconstruction, bearing in mind the minimum funding requirement of $16.3 billion, half of which is proposed to be met from domestic resources and the other half from development partners and friends,” Shehbaz said.
He added the funding gap for minimum recovery was $8 billion which would be needed over the next three years.
