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Pakistan receives ADB loan for disaster management

Islamabad, Nov 19 (Prensa Latina) Pakistan and the Asian Development Bank (ADB) signed here today a loan agreement for 500 million dollars for the National Climate and Disaster Resilience Improvement Program. The agreement was signed by Secretary Ministry of Economic Affairs Kazim Niaz and ADB Country Director Emma Fan after the approval of Pakistan's sector head Ahad Cheema, Associated Press of Pakistan (APP) reported.

Cheema told reporters that the materialization of the pact emphasizes Pakistan’s commitment to prioritize climate change initiatives and increase disaster risk financing with a stratified approach.

Meanwhile, Kazim Niaz explained that the program aims to strengthen the country’s capacity for climate change adaptation and disaster risk management by addressing vulnerabilities.

Its main goal is to refine institutional frameworks by improving disaster risk mapping, response coordination and public investments for the protection of women, he noted.

In recent years, Pakistan has been hit hard by natural disasters such as the 2022 floods that submerged about one-third of the country, destroyed or damaged more than two million homes and killed 1,700 people.

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