The China Mail - Pakistan seeks billions for flood recovery, climate resilience

USD -
AED 3.67302
AFN 70.749338
ALL 86.742549
AMD 388.618649
ANG 1.80229
AOA 917.500075
ARS 1178.051701
AUD 1.55826
AWG 1.8025
AZN 1.700534
BAM 1.715765
BBD 2.010483
BDT 120.984297
BGN 1.7157
BHD 0.376886
BIF 2961.383932
BMD 1
BND 1.308314
BOB 6.895342
BRL 5.652599
BSD 0.995767
BTN 84.626755
BWP 13.650021
BYN 3.25865
BYR 19600
BZD 2.000132
CAD 1.38345
CDF 2878.999518
CHF 0.825003
CLF 0.024599
CLP 943.990299
CNY 7.295013
CNH 7.269715
COP 4217
CRC 503.44755
CUC 1
CUP 26.5
CVE 96.729199
CZK 21.869049
DJF 177.318683
DKK 6.552185
DOP 58.678527
DZD 132.422969
EGP 50.855033
ERN 15
ETB 133.284734
EUR 0.87775
FJD 2.25435
FKP 0.746656
GBP 0.745615
GEL 2.740545
GGP 0.746656
GHS 14.438109
GIP 0.746656
GMD 70.999952
GNF 8624.138113
GTQ 7.668858
GYD 208.325292
HKD 7.758815
HNL 25.813639
HRK 6.616297
HTG 130.287559
HUF 354.518503
IDR 16760.4
ILS 3.626699
IMP 0.746656
INR 85.187451
IQD 1304.412668
IRR 42112.495489
ISK 128.260185
JEP 0.746656
JMD 157.738448
JOD 0.709199
JPY 142.655497
KES 129.249499
KGS 87.450267
KHR 3986.174711
KMF 432.500387
KPW 900.101764
KRW 1433.845047
KWD 0.30639
KYD 0.829897
KZT 510.667602
LAK 21537.476314
LBP 89218.19075
LKR 298.222682
LRD 199.142934
LSL 18.591041
LTL 2.95274
LVL 0.60489
LYD 5.447727
MAD 9.23274
MDL 17.057337
MGA 4428.361515
MKD 54.025931
MMK 2099.785163
MNT 3572.381038
MOP 7.955435
MRU 39.409969
MUR 45.203992
MVR 15.409851
MWK 1726.25392
MXN 19.62078
MYR 4.32599
MZN 63.999919
NAD 18.591041
NGN 1602.030006
NIO 36.642279
NOK 10.37059
NPR 135.401863
NZD 1.67639
OMR 0.385007
PAB 0.995789
PEN 3.654268
PGK 4.123024
PHP 56.172498
PKR 279.80139
PLN 3.743849
PYG 7973.331579
QAR 3.629417
RON 4.369602
RSD 102.824809
RUB 81.648547
RWF 1404.653815
SAR 3.751158
SBD 8.354312
SCR 14.65233
SDG 600.496472
SEK 9.60104
SGD 1.30836
SHP 0.785843
SLE 22.686694
SLL 20969.483762
SOS 569.072527
SRD 36.84966
STD 20697.981008
SVC 8.713045
SYP 13001.961096
SZL 18.585433
THB 33.371013
TJS 10.504897
TMT 3.5
TND 2.969731
TOP 2.342101
TRY 38.44238
TTD 6.758369
TWD 32.284019
TZS 2694.999956
UAH 41.510977
UGX 3652.074743
UYU 41.923443
UZS 12902.008948
VES 86.54691
VND 26005
VUV 121.306988
WST 2.770092
XAF 575.438735
XAG 0.0301
XAU 0.000302
XCD 2.70255
XDR 0.715661
XOF 575.438735
XPF 104.623213
YER 245.103552
ZAR 18.57321
ZMK 9001.208908
ZMW 27.806215
ZWL 321.999592
  • RIO

    0.3100

    60.87

    +0.51%

  • CMSC

    -0.0100

    22.32

    -0.04%

  • SCS

    -0.0300

    9.86

    -0.3%

  • RBGPF

    60.8800

    60.88

    +100%

  • RYCEF

    -0.0600

    10.12

    -0.59%

  • NGG

    0.8100

    72.85

    +1.11%

  • BTI

    0.3400

    42.39

    +0.8%

  • CMSD

    0.0200

    22.48

    +0.09%

  • BCC

    -0.1800

    95.33

    -0.19%

  • BCE

    0.1600

    21.81

    +0.73%

  • VOD

    0.2200

    9.57

    +2.3%

  • RELX

    -0.1900

    53.36

    -0.36%

  • GSK

    0.6300

    38.06

    +1.66%

  • BP

    -0.0600

    29.13

    -0.21%

  • AZN

    0.3600

    69.93

    +0.51%

  • JRI

    0.0600

    12.8

    +0.47%

Pakistan seeks billions for flood recovery, climate resilience
Pakistan seeks billions for flood recovery, climate resilience / Photo: © AFP

Pakistan seeks billions for flood recovery, climate resilience

Pakistan will ask Monday for billions in international support towards its recovery from the aftermath of last year's devastating floods and to help it better resist climate change.

Text size:

To meet the huge needs, Pakistan and the United Nations will co-host an international conference in Geneva, urging countries, organisations and businesses to step up with financial and other support towards a long-term recovery and resilience plan.

Pakistan Prime Minister Shehbaz Sharif and UN Secretary-General Antonio Guterres will kick off the one-day event, which will also feature speeches by a number of heads of state and government.

French President Emmanuel Macron, his Turkish counterpart Recep Tayyip Erdogan and European Commission chief Ursula von der Leyen will also address the conference via video link.

According to Pakistan's so-called Resilient Recovery, Rehabilitation and Reconstruction Framework, which it will officially present during Monday's conference, $16.3 billion will be needed in all.

Pakistan's government aims to cover half that amount with "domestic resources", including its development budget and through public-private partnerships.

But it is looking to the international community to cover the remainder, with the hope that Monday's conference will generate significant pledges of support.

Around 450 participants from some 40 countries have registered for the event, including representatives of the World Bank and several multilateral development banks.

- 'Pivotal moment' -

"The waters may have receded, but the impacts are still there," Achim Steiner, head of the UN development agency, told AFP ahead of the conference, describing the floods as "a cataclysmic event".

"There is a massive reconstruction and rehabilitation effort that needs to be undertaken."

The flooding, which killed more than 1,700 people and affected some 33 million others, still has not receded in some southern parts of the country.

The UN children's agency said Monday that as many as four million children were still living near contaminated and stagnant flood waters.

Millions of people remain displaced, and those who have been able to go back home are often returning to damaged or destroyed homes and mud-covered fields that cannot be planted.

Food prices have soared, and the number of people facing food insecurity has doubled to 14.6 million, according to UN figures.

The World Bank has estimated that up to nine million more people could be dragged into poverty as a result of the flooding.

"This is a pivotal moment for the global communities to stand with the people of Pakistan," Khalil Hashmi, the country's UN envoy in Geneva, told reporters.

But he emphasised that the conference would be "the beginning of a multiyear process".

Pakistan and the UN stress that Monday's event is broader than a traditional pledging conference, as it seeks to set up a long-term international partnership focused on recovery, but also on boosting Pakistan's climate resilience.

Pakistan, with the world's fifth-largest population, is responsible for less than one percent of global greenhouse gas emissions but is one of the most vulnerable nations to extreme weather caused by global warming.

The country "is essentially a victim of a world that is not acting fast enough on the challenge of climate change", Steiner said.

F.Brown--ThChM