IsDB and Pakistan's Government Sign Financing Agreements Worth 188.7m Euro for Reconstructing Flooded Homes Project

Jeddah, March 25, 2024, SPA -- The Islamic Development Bank (IsDB) and the Government of Pakistan signed financing agreements worth 188.7 million Euro in Islamabad on Sunday for the emergency housing reconstruction project, which will rebuild affected communities in Sindh and provide climate-resilient housing facilities for families displaced by the devastating floods in 2022, it was reported here.
Pakistani Minister of Economics, Ahad Khan Cheema, who signed for his government, thanked IsDB for lending a generous hand of support. For his part, the Director of the Regional Center of the IsDB, Dr. Walid Abdel Wahab, who signed for his organization, said in remarks following the signing ceremony that the bank's financing is not only about rebuilding homes but rather about laying the foundations for sustainable development and the ability to face the challenges of the future, stressing IsDB's commitment to supporting Pakistan in its journey towards recovery and prosperity through climate-resistant infrastructure.
The project includes the construction of 700,000 homes, benefiting an estimated 4.2 million people in rural areas, in addition to the establishment of 75,000 water, sanitation, and public hygiene facilities, significantly improving the conditions of more than 1.3 million individuals.
-- SPA