Govt Trying to Unlock $1.3 Billion in Geneva Pledges This Fiscal Year

The current federal government is trying very hard to unlock $1.3 billion in financing which was promised as part of a cumulative $10 billion in pledges that were secured at the Geneva Donors Conference in January 2023, high-level sources told ProPakistani. Sources said the target includes $1 billion in pledged project financing with an additional funding of $300 million. The Ministry of Planning and the Ministry of Economic Affairs have finalized the plans for unlocking these funds which will be used in flood recovery, rehabilitation, and construction projects. So far, Pakistan has received $3 billion through the Geneva Donors Conference. By 2027, the country sees securing up to $10 billion in project financing from these donors. The funds will be distributed between provincial and federal authorities to support the rehabilitation and development of flood-affected areas. The financing will be provided by international organizations such as the World Bank, the Asian Development Bank, and the Asian Infrastructure Investment Bank.