According to a press statement from the Ministry of National Food and Security, the World Bank (WB) said on Wednesday that it planned to give Pakistan $1.3 billion for emergency, agricultural, and housing relief in the aftermath of devastating floods this year.
According to World Bank Regional Director for Sustainable Development John A. Roome, who met with Federal Minister for National Food Security and Research Tariq Bashir Cheema, the money would be disbursed following approval from the board meeting of the international lender in December.
Additionally, the World Bank has agreed to lend the nation money to subsidise urea for farmers who have been harmed by the floods.
Cheema reminded the group at the meeting today that the recent floods and rain had caused the farming community to suffer enormous losses. He stated, “We are making every effort to offer relief and support to disadvantaged farmers and to aid them in rehabilitation.
The minister acknowledged the assistance provided by the World Bank for flood relief and the rehabilitation of the affected farmers but added that because the natural disaster was unforeseeable, the farmers needed assistance to recover and resume their normal lives.
The Benazir Income Support Programme (BISP) database might assist identify farmers for the targeted subsidy, Additional Secretary Muhammad Asif said the group.
Additionally, he pointed out that the National Flood Response Coordination Centre (NFRCC) has created a digital application that might assist in getting information to farmers.
Cheema, however, stressed the importance of improving cooperation between the federal government, provincial governments, the World Bank, and other stakeholders to support the poor as soon as possible.
Additionally, he pledged the ministry’s full support for the World Bank’s activities and projects in Pakistan. He claimed that providing aid to the farming community and providing relief will contribute to achieving food security. The World Bank had earlier this month said that it will give Pakistan more than $3 billion for the construction of energy-related infrastructure.