Millions of people are still displaced in flood-affected areas of Pakistan. Millions more have returned home, but they are surrounded by stagnant water. Five million more people are likely to experience food insecurity in the next three months. According to preliminary estimates, floods will increase the national poverty rate by 3.7 percent to 4.0 percent. The UN flood appeal of $816 million (as revised) is inadequate.
It only covers about 10% of Pakistan’s $30 billion in flood losses and damage. Most flood survivors have been self-sufficient in terms of shelter and food. The estimated cost of flood recovery and reconstruction is 1.6 times the budgeted national development expenditure for FY23. The World Bank and the Asian Development Bank have already approved $2 billion in flood reconstruction loans for Pakistan. The government has prepared a strategy to use $8 billion from its budgetary resources toward the total reconstruction cost of more than $16 billion.
The donors’ conference should not be given a lot of attention. There are visible signs of donor exhaustion in the middle of a global recession and record inflation.
