World Bank approved a US$400 million Emergency Recovery Credit (ERC) to further support the earthquake recovery and reconstruction effort in Pakistan over a three-year period. The project will support the Government of Pakistan’s efforts to reduce the immediate suffering and restore livelihoods; reconstruct housing; and help finance needed imports. This follows the Bank’s initial commitment of US$475 million in October as part of the institution’s overall pledge of US$1 billion for earthquake recovery. 

The credit will support housing reconstruction (US$220 million), livelihood support (US$85 million), import financing (US$85 million), and capacity building (US$10 million), and also can make funds available for any financing gaps identified in other sectors such as social protection, health, education, agriculture, roads, water supply, and other infrastructure.

Pakistan: World Bank Provides US$400 Million More for Earthquake Reconstruction