About $1b worth loss of crops by floods: WB
World Bank President Robert Zoellick said Friday the floods may have destroyed crops worth around $1 billion.
SIGULDA:
World Bank President Robert Zoellick said on Friday that floods in Pakistan may have destroyed crops worth around $1 billion and that the organisation was considering redirecting aid to the country.
"An early assessment is that the damages are more than in the earthquake in 2005," he told a news conference during a visit to Latvia. "The rough estimate is that there is a billion dollars of losses of crops. All of us will have to pitch in to help."
Aid agencies said on Friday that water-borne disease outbreaks posed new risks to victims, with already around 36,000 suspected cases of potentially fatal acute watery diarrhoea reported so far.
Zoellick said he had word that a reconstruction needs assessment team had landed in Pakistan on Friday with representatives from the World Bank and the Asian Development Bank. The World Bank was also considering redirecting aid.
"We've already started to think about reprogramming some of our funding, and based on the government request we are looking to see if we might reprogramme about $900 million," Zoellick said after meeting the prime minister of Latvia.
Wheat, cotton and sugar crops have all suffered damage due the worst-ever floods in the country.
The International Monetary Fund has warned of major economic harm and Pakistan's finance ministry said the country would miss this year's 4.5 per cent gross domestic product growth target although it was not clear by how much.
World Bank President Robert Zoellick said on Friday that floods in Pakistan may have destroyed crops worth around $1 billion and that the organisation was considering redirecting aid to the country.
"An early assessment is that the damages are more than in the earthquake in 2005," he told a news conference during a visit to Latvia. "The rough estimate is that there is a billion dollars of losses of crops. All of us will have to pitch in to help."
Aid agencies said on Friday that water-borne disease outbreaks posed new risks to victims, with already around 36,000 suspected cases of potentially fatal acute watery diarrhoea reported so far.
Zoellick said he had word that a reconstruction needs assessment team had landed in Pakistan on Friday with representatives from the World Bank and the Asian Development Bank. The World Bank was also considering redirecting aid.
"We've already started to think about reprogramming some of our funding, and based on the government request we are looking to see if we might reprogramme about $900 million," Zoellick said after meeting the prime minister of Latvia.
Wheat, cotton and sugar crops have all suffered damage due the worst-ever floods in the country.
The International Monetary Fund has warned of major economic harm and Pakistan's finance ministry said the country would miss this year's 4.5 per cent gross domestic product growth target although it was not clear by how much.