ADB offers flood-hit Pak $2-bn aid package

The Asian Development Bank said on Thursday it will extend a $2 billion assistance package to Pakistan to help repair the damage to infrastructure from the worst ever floods to hit the country.

The Asian Development Bank said on Thursday it will extend a $2 billion assistance package to Pakistan to help repair the damage to infrastructure from the worst ever floods to hit the country.

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The Manila-based ADB said the amount will be for emergency rehabilitation and reconstruction work. It was not clear how the amount would be disbursed, nor were the terms of the assistance package clear.

“The extent of human suffering caused by the floods cannot be easily quantified, nor can the damage wrought upon the country's physical and social infrastructure,” Juan Miranda, ADB’s director general for its central and West Asia department, said in a statement.

“But what is clear is that this disaster is like no other in living memory — and that our response must also be unprecedented, equal to the need, and fast.” ADB has previously approved a $3 million grant for urgent relief and rehabilitation measures for Pakistan. That will be in addition to the new package.