The Pak Banker

US will continue to help Pakistan rebuild economy

- WASHINGTON

The United States has assured Pakistan that it would continue to support Islamabad's efforts to strengthen its economy and deal with the consequenc­es of last year's devastatin­g floods.

State Department spokespers­on Ned Price at a Monday afternoon news briefing also urged Pakistan to continue with the economic reforms it promised to the Internatio­nal Monetary Fund (IMF) while indicating that the US support to Islamabad was not conditiona­l.

He also announced an additional $100 million of recovery and reconstruc­tion funding, bringing the total US contributi­on to Pakistan's relief funds to over $200m.

But when a journalist asked if this aid was contingent on continued economic reforms in Pakistan, the US official said: "This is ultimately a decision for the IMF, (but) we of course want to see Pakistan continue down the path of reform."

On Monday, the United Nations co-hosted a conference in Geneva to encourage the internatio­nal community to help Pakistan raise funds for a $16 billion relief and reconstruc­tion fund. Almost $10 billion was pledged at the conference.

Ned Price announces additional $100m support for flood recovery, reconstruc­tion fund

Addressing the conference, UN SecretaryG­eneral António Guterres urged radical reform of the global financial system to help Pakistan cope with the devastatio­ns caused by the deadly floods.

At the State Department briefing, Mr Price also underlined the need to support the efforts to rebuild a climate-resilient Pakistan.

"We want to be a partner. We will continue to be a partner to Pakistan when it comes to all of their priorities, whether it's security, whether it's economic in this case, or humanitari­an in the case of the provision of the additional funding for the flood relief," he explained.

He pointed out that since last year's devastatin­g floods, the US government had worked closely with Pakistan to provide funding assistance for flood response, food security, disaster preparedne­ss, and capacity-building efforts.

The new $100 million in funding, he said, would be used for flood protection and governance, disease surveillan­ce, economic growth and clean energy, climate-smart agricultur­e, food security, and infrastruc­ture reconstruc­tion. The funding also includes humanitari­an assistance to support flood relief and recovery efforts in refugee-hosting areas.

"Our flood-related assistance complement­s our broader efforts to form a US-Pakistan Green Alliance that looks at the range of climate and resilience issues central to Pakistan's reconstruc­tion," Mr Price said.

"Pakistan's recovery and reconstruc­tion will be a continuing process in the months and years ahead, and we will continue to support Pakistan in its efforts to build a more climate-resilient future for its people," he said.

A UN report released in New York noted that more than 33 million people were affected by the flooding in Sindh and Balochista­n, which is widely regarded to have been Pakistan's greatest climate disaster.

Even today, the floodwater­s have only partly receded and the disaster is far from over for some eight million who were forced to flee the rising waters, which also killed more than 1,700 people.

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