World Bank raises aid to $1billion

$700million to be spent on relief operations, $300million apportioned for the import of essential items.


Express August 20, 2010

ISLAMABAD:

The World Bank on Friday assured that aid for flood affectees will be increased from $900 million to one billion dollars.


Senior Director for Operations for the World Bank ,who is currently on a visit to Pakistan to assess aid requirements, met with the Advisor to the Prime Minister on Finance Dr Abdul Hafeez Shiekh in Islamabad.


The aid has been increased in light of the extensive damage caused to infrastructure as well as huge requirement for relief activity.


The aid will be split into two parts, with $700 million to be spent on relief operations,  while $300 million will be apportioned for the import of essential items for the flood affectees.

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COMMENTS (1)

Jabbar | 10 years ago | Reply Is this "aid" (free money" or a "loan" (money that has to be repaid). I think given previous reports that this is redirection of World Bank LOANS. I am sorry your newspaper makes too many mistakes and seems like your reporters have no idea even of basics. Every second story has a problem like this.
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