Business

World Bank approves additional $450 million for Sindh flood emergency housing reconstruction

The funds will benefit at least 360,000 more eligible individuals

World Bank approves additional $450 million for Sindh flood emergency housing reconstruction

A woman stands near a logo of World Bank

File/Reuters

The World Bank has approved an additional $450 million in financing for the Sindh flood emergency housing reconstruction project.

The financing aims to bolster housing reconstruction for those in Sindh province affected by the devastating floods in 2022.

This new funding builds on an original $500 million project approved in December 2022, which has facilitated the owner-driven, multi-hazard resilient reconstruction of over 410,000 core housing units.

The additional funds will expand comprehensive housing reconstruction efforts in Sindh, benefiting at least 360,000 more eligible individuals.

Additionally, the project will support the provision of at least 30,000 safely managed water, sanitation, and hygiene (WASH) facilities.

“Building resilience to natural disasters and climate shocks through strengthening physical infrastructure, particularly for the most vulnerable, has been a key element of the World Bank’s support in flood-affected areas of Sindh Province,” said Najy Benhassine, World Bank Country Director for Pakistan.

“This additional financing will also strengthen efforts at providing and improving safely managed water, sanitation, and hygiene services which play a critical role in preventing water-borne diseases contributing to high rates of child stunting in the province.”

Furthermore, eligible beneficiaries will receive grants of up to PKR 50,000 to support housing improvements, ensuring homes are accessible and tailored to specific disability needs.

“The additional financing aims to extend the benefits of the parent project, especially for the most economically and climate-vulnerable members of society, prioritizing citizen engagement and feedback,” said Kamran Akbar, Task Team Leader of the project.

“It will also train masons in multi-hazard housing reconstruction standards, promote climate-resilient houses, boost the local economy through the use of local materials and labor, and empower the vulnerable population through safe shelter, financial inclusion, and community engagement activities.”

Comments

See what people are discussing

More from Business

UAE retail investors reveal top financial goals for 2025

UAE retail investors reveal top financial goals for 2025

Many UAE retail investors are prioritizing portfolio diversification in the coming year.