IMF delegation, Ishaq Dar to meet on sidelines of Geneva Conference

January 08, 2023 (MLN): A delegation of the International Monetary Fund (IMF) delegation will meet with Federal Minister for Finance and Revenue Senator Ishaq Dar on the sidelines of the International Conference on Climate Resilient Pakistan conference to discuss outstanding issues and the path forward, IMF's Spokesperson informed on Sunday. 

The conference will be held in Palais des Nations, Geneva on January 09, 2022, to bring together government representatives, and leaders from the public and private sectors to stand with the people after the devastating floods of 2022. The said event will be co-hosted by the Government of Pakistan and the United Nations.

Earlier, the Managing Director of the fund Kristalina Georgieva had a constructive discussion with Prime Minister Shehbaz Sharif pertaining to the subject of the conference, the IMF spokesperson in its message added. 

She also extended sympathy towards the flood affectees and appreciated Pakistan’s efforts to face this challenge with resilience.

The aim of this conference is to present the Resilient Recovery, Rehabilitation, and Reconstruction Framework, which lays out a multisectoral strategy for rehabilitation and reconstruction in a climate-resilient and inclusive manner and secure international support and forge long-term partnerships for building Pakistan’s climate resilience and adaptation.

The devastating floods in 2022 were Pakistan’s worst disaster in decades. They left one-third of the country submerged, about 15,000 dead or injured, and 8 million displaced.

Over 2mn homes, 13,000 kilometers of highways, 439 bridges, and more than 4mn acres of agricultural land were destroyed or damaged.

An estimated 9mn more people could be forced into poverty as a direct consequence of these floods.

With help from the United Nations, the generosity of donors and partners, and the heroic response of its people, the government has been able to respond to this unprecedented climate catastrophe.

It provided $245mn in cash support to 2.2mn households and, with the help of international agencies, has distributed hundreds of thousands of tents, food, water, and medicines to the destitute and the displaced.

Now, the enormous challenge of reconstruction and rehabilitation lies ahead.

With the support of the United Nations system, the World Bank Group, the Asian Development Bank, and the European Union, Pakistan has prepared a Post-Disaster Needs Assessment (PDNA), which estimates flood damages to exceed $14.9bn, economic losses over $15.2bn and reconstruction needs over $16.3bn.

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