Pakistan became the victim of climate change earlier this year when heavy floods strangle the provinces of Sindh and Khyber Pakhtunkhwa. Abnormal rains, thunderstorms, and melting glaciers all surrounded Pakistan and resulted in immense damage.
Due to floods, more than 1700 people died among which many were women and children. Floods damaged countless properties, villages, and crops.
At international events and platforms, Pakistan’s spokesperson made it clear that the country needs economic and financial support from the international community to deal with the situation at hand.
Minister Ayaz Sadiq revealed that Pakistan will get $475 million as it has signed an agreement with Asian Development Bank (ADB) for flood loans.
Economic Affairs Minister said, that ADB signed the loan at the rate of 1% for a period of 40 years.
He further reassured that there is no chance of Pakistan being bankrupt, and if there was such a case then ADB would not have agreed to sign the flood relief agreement.