Pakistan Secures Over $10 Billion in Pledges At Geneva

Pakistan has secured over $10.5 billion in pledges from international creditors for reconstruction in flood-affected areas at the International Conference on Climate Resistant Pakistan held in Geneva. UN Secretary-General Antonio Guterres called on the global community to invest in building climate-resilient infrastructure in Pakistan and to provide access to technology and knowledge to withstand future disasters. During the conference, delegations recalled their assistance to the immediate relief efforts and affirmed their support to the people of Pakistan for a resilient recovery, rehabilitation and reconstruction. Delegations expressed their solidarity and announced commitments of financial support to the realization of the objectives and priority areas, as well as to ongoing humanitarian efforts. Pakistan and the United Nations co-hosted the conference. The Islamic Development Bank Group has pledged $4.2 billion over three years, the World Bank has pledged $2 billion, and the Asian Infrastructure Investment Bank has pledged $1 billion. The European Union has pledged $93 million, Germany has pledged $88 million, China has pledged $100 million, Japan has pledged $77 million, and the Asian Development Bank has pledged $1.5 billion. The United States Agency for International Development has pledged $100 million, and France has pledged $345 million. The Kingdom of Saudi Arabia has also pledged $1 billion to assist Pakistan in recovery and rehabilitation efforts. Prime Minister  Shehbaz Sharif assured complete transparency in the use of funds provided by the international community.