THE DEVASTATING FLOODING in Pakistan this summer floods has caused damage worth $9.5bn (€6.8bn) to property, crops and infrastructure, according to Asian Development Bank and World Bank assessment.
Reuters reports that Finance Ministry officials said that aside from trying to cope with that direct damage, the government may face total recovery costs of $30bn (€21.49bn) – although they had not seen the report.
“The total loss is $9.5 billion dollars according to the report,” one of the officials said to the news agency.
The $30bn figure would take into account what Pakistan needs for reconstruction, rehabilitation of infrastructure and compensation of losses.
That figure will likely disappoint Pakistan’s government if it is correct, as it had estimated the recovery costs at $43bn. Pakistan needs all the aid it can secure – but the lower figure will mean less aid.
Less aid will also be a blow to the US, which is trying to keep Pakistan on side as it struggles with the threat of anti-American militancy. The US fears that if aid does not reach the country’s needy quickly enough, the Taliban will step in to overthrow already unpopular local leaders.
The floods have created a humanitarian disaster in Pakistan, affecting 20 million people overall. More than 10 million people have been left homeless as a result of the flooding.
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