The World Bank announced Thursday that it intends to contribute up to $1.7 billion in flood-related aid through both existing and new initiatives, as well as $22.2 million in funding for farmers affected by floods. .
According to Martin Raiser and John Room, regional directors for the Sustainable Development for South Asia at the World Bank, the horrific floods have put victims in economic distress.
Raiser told the Energy Minister for engineering. Khurram Dastagir Khan said the World Bank “plans to offer flood-related assistance of up to $1.7 billion through existing and new projects,” according to a news statement issued here.
“This could be shaped by strengthening Social Security programs, new emergency operations and long-term resilience measures to aid recovery,” Raiser continued. He recognized Pakistan’s policy move in favor of renewable energy as a positive development.
Food Security Minister Tariq Bashir Cheema and John Roome met separately. He informed the minister that the bank would contribute $22.2 million to a specific program to help farmers devastated by the floods.
Rumay informed the minister, “The World Bank will assist Pakistan through programs aimed at rehabilitating those devastated in this time of need. Both sides agreed that the World Bank’s Locust Emergency and Food Security (LEAFS)” The initiative should be used to aid the recovery of the farming community in flood and locust affected areas.
Roome promised to ask the World Bank Group board to provide aid to Pakistan as it works to recover from the devastation caused by the record floods. Cheema thanked the World Bank Group for its assistance.
Cheema informed the group that the agricultural industry and rural communities had been destroyed by rains and floods at the time. To restore normalcy, he continued, “At this critical time, we are mainly focusing on rehabilitation activities in the flood-affected districts.”
Cheema said the Ministry of National Food Security intends to subsidize inputs – seeds and fertilisers – with provinces “on a cost-sharing basis for the upcoming rabi season” to support farmers in flood-affected areas.
“We intend to give subsidized wheat and oil saplings along with one sack of fertilizer per acre to farmers in faulty areas. The distribution will be monitored by the provincial governments and the National Disaster Management Authority (NDMA).
Cheema stressed that “suggested subsidies may soon be submitted to the federal cabinet” and speculated that “farmers will be able to bounce back on their feet after this support.” He said that the government is fully cooperating with the agriculture ministries.
Separately, Cheema directed the Department of Plant Protection (DPP) to develop a comprehensive plan by the end of this month to distribute fertilizers in the flood-affected districts.
Additionally, he gave his approval to the department’s proposal to hire technical staff to monitor the outbreak of the disease and locust outbreaks. He cautioned that the recent rains and floods will increase the chances of other locust attacks.