Pakistan flood losses exceeds $40B, World Bank assessed: Sherry Rehman
Minister for Climate Change Senator Sherry Rehman stated on Monday that the World Bank has assessed a $40 billion loss to Pakistan’s economy as a result of the recent devastating floods.
This year, Pakistan has been hit by extraordinary monsoon rains, which have killed 1,700 people, destroyed two million homes, and submerged one-third of the country.
Senator Sherry Rehman stated on Twitter that Pakistan has appealed to the projected damage to infrastructure, crops, households, and highways is far more. According to the World Bank estimate, the floods will force around nine million Pakistanis into poverty.
Speaking about the widespread water-borne infections in flood-affected parts of Pakistan, the minister stated that the country’s health problem is currently worsening.
She went on to remark that the government needed to work on the rehabilitation of flood victims and their return to their homes. During the humanitarian catastrophe, the PPP leader encouraged the world community to assist the victims.
According to a World Bank analysis released last week, the floods are anticipated to increase Pakistan’s poverty rate by 2.5 to 4 percentage points.
It warned that employment losses, livestock losses, harvest losses, school closures, illness spread, and increased food prices threaten to push between 5.8 and 9 million people into poverty.
According to the World Bank, inflation in the country is expected to be 23% in the fiscal year 2023.
