Pakistan, EU bank sign €100mln agreement for Sindh flood housing reconstruction

The Government of Pakistan and the European Investment Bank (EIB) have signed a €100 million agreement to support the Sindh Flood Emergency Housing Reconstruction Project, the Ministry of Economic Affairs said in a statement. The project will help rebuild homes for families affected by the 2022 floods in rural Sindh. The agreement was signed by Muhammad Humair Karim Kidwai, Federal Secretary for the Ministry of Economic Affairs, and a senior official from the EIB during the EU–Pakistan Business Forum. Raimundas Karoblis, the EU’s Ambassador to Pakistan, witnessed the signing. The project aims to rebuild 1. 7 million homes in Sindh. The €100 million from the EIB will be used to construct 116, 580 housing units, benefiting 40% of rural households in the province. The total cost of the project is estimated at €1. 9 billion, with additional funding from the World Bank, Asian Development Bank, Islamic Development Bank, and the Government of Sindh. This agreement comes as Pakistan focuses on strengthening its resilience to future climate disasters. The project is part of a global effort to support Pakistan’s long-term recovery, ensuring communities are better prepared for the impacts of climate change. It reflects a shared commitment to building back better and enhancing climate resilience in the region. The initiative is not only about rebuilding homes but also improving infrastructure, which is crucial for Pakistan’s sustainable recovery. With international support, the project aims to provide essential housing, strengthen communities, and promote long-term climate resilience in Sindh.

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