The World Bank and IMF have decided
to increase the funds allocated for Pakistan to help the country
recover from its current flood-hit situation.
Pakistan has seen unprecedented floods in the past month and normal
life has been affected drastically. The floods in Pakistan have
engulfed an area, the size of England, affecting more than 2 crore
people, including 80 lakh people who are dependent on external aid
Considering the situation, the World Bank had already allotted Rs.
4230 crores for the flood-hot Pakistani citizens. Now with Pakistan's
plea for more, it has been decided to allot an additional Rs. 470
crores to the existing aid amount.
The money will come from the bank's fund for the poorest countries
and the loans are concessional and carry no interest payments.