World Bank to mobilize $1.5 billion for flood-hit Pakistan this year

Pakistan's Finance Minister Ishaq Dar, center, holds a meeting with World Bank’s Country Director Najy Benhassine, (third left), in Islamabad on October 18, 2022. (Photo courtesy: @FinMinistryPak/Twitter)
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Updated 09 October 2022
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World Bank to mobilize $1.5 billion for flood-hit Pakistan this year

  • Finance Minister Ishaq Dar meets World Bank country director in Islamabad
  • A few days ago, Asian Development Bank announced $2.3-2.5 billion funds for Pakistan

ISLAMABAD: The World Bank on Saturday announced it is allocating $2 billion for Pakistan in flood support, out of which $1.5 billion would be mobilized this year, the Finance Division confirmed.  

The development comes a few days after the Asian Development Bank (ADB) said it would provide $2.3-2.5 billion to support the South Asian country as it grapples with heavy losses inflicted by catastrophic floods.  

Official figures released by Pakistan say over 1,700 people have been killed in rain-related incidents since June 14. Unusually heavy monsoon rains, coupled with melting glaciers, have triggered flash floods that have swept away swathes of crops and hundreds of bridges, roads and other critical infrastructure.  

Finance Minister Mohammad Ishaq Dar held a meeting with the World Bank’s Country Director Najy Benhassine on Saturday to apprise him of the devastation caused by the floods in Pakistan.  

"He [Benhassine] informed the Finance Minister that the Bank is allocating $ 2 billion funds from existing World Bank financed projects for emergency operations in flood affected areas to support Pakistan,” the Finance Division said.  

The World Bank executive informed Dar that funds to the tune of $1.5 billion would be mobilized for Pakistan this year to deal with the emergency situation.  

Dar, in turn, thanked Benhassine and said Islamabad values the financial and technical support provided by the World Bank for Pakistan’s institutional reforms and economic development of the country. 

“The Finance Minister assured Mr. Najy Benhassine and his team of meeting prior actions for timely completion of programmes and thanked them for their continuous support and facilitation,” the Finance Division said.  

After the recent devastation brought about by floods and other climate disasters around the world, developing countries have called for big polluters to be held responsible for emitting greenhouse gases.  

Prime Minister Shehbaz Sharif last month called for debt relief for flood-hit Pakistan as it continues to grapple with the natural disaster and grave challenges faced by the country's fragile economy. 

“I need to put our millions of people back in the rooms, busy again with the ordinary life in agriculture, in industry and getting jobs back,” Sharif had said. 

“Time is running, and we’re racing against time,” the PM added. “Please help us avoid this disaster.” 


UN Security Council condemns Islamabad mosque bombing claimed by Daesh

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UN Security Council condemns Islamabad mosque bombing claimed by Daesh

  • The Council urges accountability, calls for cooperation with Pakistan
  • A suicide bomber targeted the mosque during prayers, killing 32 people

ISLAMABAD: The United Nations Security Council said on Friday it condemned a suicide bombing at a mosque on the outskirts of Islamabad that killed at least 32 people, calling the attack “heinous and cowardly” and urging accountability for those responsible.

The blast targeted the Qasr-e-Khadijatul Kubra mosque and imambargah in the Tarlai Kallan area during Friday prayers on Feb. 6, when mosques across the country were packed with worshippers. Daesh claimed responsibility, saying one of its militants detonated an explosive vest inside the congregation.

In a press statement issued by Council President James Kariuki of the United Kingdom, members of the 15-nation body expressed “deepest sympathy and condolences” to the families of the victims and to the government and people of Pakistan.

“The members of the Security Council condemned in the strongest terms the heinous and cowardly suicide bombing terrorist attack,” the statement said, reaffirming that “terrorism in all its forms and manifestations constitutes one of the most serious threats to international peace and security.”

The Council underlined the need to hold “perpetrators, organizers, financiers and sponsors” accountable and urged all states to cooperate actively with the Pakistan government in accordance with international law and relevant UN resolutions.

Pakistan, which is currently serving as a non-permanent member of the Security Council for the 2025–2026 term, has faced intense militant violence in recent years, including attacks claimed by Tehreek-e-Taliban Pakistan, Balochistan Liberation Army and Daesh affiliates.

The administration in Islamabad said the day after the attack that a police officer was killed and four suspects were arrested in overnight raids in the northwestern cities of Peshawar and Nowshera.

Among those detained was an Afghan national alleged to have worked for Daesh and to have masterminded the bombing, authorities said.

The Security Council reiterated that acts of such militant violence were criminal and unjustifiable regardless of motivation and reaffirmed the need for states to combat threats to international peace and security in line with the UN Charter and international law.

Earlier this week, Pakistani religious scholars also condemned the bombing at a meeting presided over by Religious Affairs Minister Sardar Muhammad Yousuf, saying the attack was contrary to Islamic teachings.