Karachi: Sindh Chief Minister (CM) Murad Ali Shah has asked the Asian Development Bank (ADB) to provide PKR 1.39 trillion for building houses destroyed by recent floods, news sources reported on October 26.
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During a meeting with ADB Director General for (Central and West) Asia Eugenue Zhukov, Minister Shah stated that the province needs PKR 1.5 trillion to rehabilitate 1.8 million flood-damaged houses. He stated that the World Bank (WB) had offered PKR 110 billion of the total cash required, leaving a PKR 1.39 trillion gap. He asked the ADB to offset the difference and provide the funding needed to rebuild houses. He stated that Sindh was most adversely hit by the floods and needed the largest funding to develop and rehabilitate communities. On the occasion, ADB officials stated that the bank has promised a total of USD 475 million for rehabilitation, with USD 300 million earmarked for provinces to rebuild damaged infrastructure. Furthermore, the National Highway Authority (NHA) has been given USD 100 million to rebuild roads in flood-affected districts.
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It should be noted that the World Bank has allocated USD 500 million for housing in Sindh, for which the Sindh government has already established a government-owned company. The company will appropriate the cash set aside for rehabilitation initiatives.