News Alert: $9 Billion in Support to Flood-affected Pakistan Welcome, But Not at the Expense of Increased Debt
Mercy Corps welcomes this week’s announcement of $9 billion in funding pledged by banks and countries, including the World Bank and France among many others, to support flood-affected communities and aid recovery efforts in Pakistan following the catastrophic floods in 2022, but cautions that pledges should not add to the burden of debt faced by Pakistan and need to be accessible within weeks, not months.
Farah Naureen, Mercy Corps’ Country Director for Pakistan, says:
“While recovery costs are estimated to be much higher, $9 billion in funding is a very welcome contribution to Pakistan’s recovery and reconstruction efforts. Flood-affected communities have urgent and ongoing needs that must be addressed now, and these needs cannot be met without adequate and timely funds. I would like to see prompt follow-through to ensure pledges are formalized within a matter of weeks; and accessible to a variety of implementers - especially INGOs and their local implementing partners.”
About Mercy Corps
Mercy Corps has been working in Pakistan since 1986 and was one of the first international relief agencies to respond on the ground to the 2022 floods by providing access to water, sanitation, hygiene, primary healthcare, cash-for-work, and infrastructure rehabilitation.