International donors committed over $9 billion to help Pakistan recover from ruinous floods last year
Officials from some 40 countries as well as private donors and international financial institutions gathered at a meeting in Geneva as Islamabad sought funds to cover around half of a recovery bill amounting to $16.3 billion. The meeting’s co-hosts, the United Nations and Pakistan’s government, said more than $9 billion had been pledged from bilateral and multilateral partners.
Waters are still receding from the floods caused by monsoon rains and melting glaciers that killed at least 1,700 people, displaced around 8 million and destroyed key infrastructure. Earlier on Monday, UN Secretary General Antonio Guterres called for massive investments to help Pakistan recover from what he called a “climate disaster of monumental scale.” “Pakistan is doubly victimized by climate chaos and a morally bankrupt global financial system,” he added.
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