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September 08, 2008


ADB releases USD 214 million to Pakistan for reconstruction

The Asian Development Bank has released USD 214 million to the government of Pakistan under the Earthquake Displaced People Livelihood Restoration Program. The ADB said the amount is the second tranche of a USD 400 million loan aimed at helping Pakistan meet the rebuilding cost of about 585,000 rural houses damaged or destroyed in the earthquake.

Mr Peter Fedon country director of ADB in Pakistan said that "The funds being provided to the Earthquake Displaced People Livelihood Restoration Program will help expedite disbursement of housing compensation to the earthquake affected families and will enable people to complete reconstruction of their damaged and destroyed houses during summer."

He added that "We are committed to supporting the government’s efforts in meeting the reconstruction challenge all the way through, building on the strong momentum in the reconstruction process and we will continue to assist Earthquake Displaced People Livelihood Restoration Program until the job is done."

The ADB pledged USD 1 billion for reconstruction and rehabilitation, mainly in the housing, power, health, education, transport and social protection sector. To date, ADB has committed about USD 820 million in loans and grants and leveraged another USD 100 million in the form of bilateral grant funds from its co financing partners Australia, Belgium, the European Union, Finland and Norway.

Mr Shaukat Shafi senior ADB project implementation officer said that rebuilding of over half a million destroyed or badly damaged rural houses was a phenomenal challenge, however, the decision by the government to provide a PKR 150,000 housing grant to each affected family has been a major successful initiative. He added that "The decision to let people take charge and build their own houses has been extremely useful in terms of assisting people in rebuilding their houses based on their own needs and time frame and using seismically compliant designs approved by ERRA."