Multilateral and bilateral donors  on Monday pledged more than $8 billion in aid to flood-hit Pakistan as it seeks funding to rehabilitate the affected 33 million population and cover damages worth billions.

Pakistan, which has a $350 billion economy, is in economic turmoil as a result of the disastrous floods that killed at least 1,700 people and caused damages worth more than $16 billion, half of which Islamabad is financing with its own resources.

The offers came as Prime Minister Shehbaz Sharif announced an $8 billion flood aid appeal at the International Conference on Climate Resilient Pakistan in Geneva, aiming at assisting the country in overcoming the devastation wrought by the cataclysmic floods.

Pakistan urgently needs $8 billion from international donors over the next three years to rebuild the country’s economy, which was largely destroyed by devastating floods from June to October 2022, Prime Minister Shehbaz said in Geneva.

With response to the country’s $8 billion flood plea, the World Bank and Islamic Development Bank (IsDB) committed more than $6 billion to Pakistan to aid in climate reconstruction.

The IsDB has offered $4.2 billion to Pakistan over the next three years, and the World Bank has pledged $2 billion, with backing from the US, China, and other countries.

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