The World Bank has committed US$870 million for earthquake-related support to Pakistan. This funding comes from:
An aid package totaling US$470 million, announced on October 25, 2005. The package comprises US$200 million in quick disbursing credits from the Bank’s International Development Association (IDA), a US$100 million loan for highway reconstruction, US$140 million in additional credit financing, and US$30 million, in reallocated IDA funding.
A US$400 million Emergency Recovery Credit (ERC), approved on December 15, 2005. The credit supports housing reconstruction (US$220 million), livelihood support (US$85 million), import financing (US$85 million), and capacity building (US$10 million)
Disbursements as of end of September 2006: US$640 million
- The second installment of Housing grants has been disbursed to more than 82% of eligible households, totaling around US$467 million.
- Reconstruction of over 25% of the damaged houses has started.
- Around 528,000 people have signed a Memorandum of Understanding to reconstruct their homes.
- Over 80,000 supervisors and house owners have been taught about seismically safe construction designs and methods.
- Some 90% of the 240,895 eligible families are currently receiving livelihood support in form of cash grants of Rs 3,000 (about US$50) per month.
- So far the program has dispersed more than US$35 million to beneficiaries.
Since its inception on October 25, 2005, the Earthquake Reconstruction and Rehabilitation Authority has grown from skeleton staff to a robust organization of more than 200 people.
A road sector strategy has been approved by the ERRA Council, providing criteria-based categorization and prioritization of the damaged road network for reconstruction purposes. Total funding requirements for the road sector is US$467 million, out which US$296 million (US$100 million from the World Bank) is currently available through various donor commitments, leaving a financing gap of about US$170 million.
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