The Brazilian legislator says the weapons were stolen from the Planalto Palace during the attack

AFP

$9 billion was raised for flood relief in Pakistan

Pakistan received pledges of more than $9 billion on Monday to help the country recover from last year’s catastrophic floods and improve its resilience to the ravages of climate change. Unprecedented monsoon flooding flooded vast swathes of the country and killed more than 1,700 people, while more than 33 million others were affected. The Resilient Recovery, Rehabilitation and Reconstruction Framework, which Pakistan presented at a UN-sponsored conference in Geneva, calls for $16.3 billion over the next three years for initial efforts to rebuild and improve its capacity to withstand future climate shocks. Pakistan said it should be able to cover half the cost, but pleaded with the international community to fund the rest – and ultimately the promises exceeded Islamabad’s expectations. “The pledges totaled more than $9 billion,” said Deputy Foreign Minister Hina Rabbani Khar at the end of the conference. “Today was really a day that gives us great hope.” “The message from the world is clear: the world will stand by those who are going through any natural disasters and will not leave them alone,” she said. Eight million people have been displaced, millions of acres of farmland have been destroyed, about two million homes have been destroyed, and another nine million people have been pushed to the brink of poverty. “No country deserves what happened to Pakistan,” said UN Secretary-General Antonio Guterres at a conference he co-hosted with Pakistani Prime Minister Shehbaz Sharif, who said, “We need to restore 33 million people to their future.” – Financial system ‘morally bankrupt’ – In addition to financial promises and aid, conference participants placed emphasis on enabling developing countries affected by climate disasters to build greater resilience. Guterres also called for a reorganization of the global financial system to make it easier for crisis-hit middle-income countries like Pakistan to access critical finance. “Pakistan is also a victim of the man-made catastrophe of a morally bankrupt global financial system,” he said. “A system that denies middle-income countries debt relief and preferential funding for investment in resilience and recovery – this needs to change.” Meanwhile, the World Bank stressed that Pakistan must “keep spending within sustainable limits.” “A truly sustainable recovery will not be possible without additional fiscal and structural reforms,” ​​said Martin Raiser, the World Bank’s vice president for the South Asia region. He called on Pakistan to “address the inefficiency that is holding back investment” and to opt for “more progressive, broader taxation”. The Pakistani delegation was also to meet in Geneva with representatives of the International Monetary Fund. – “A nightmare” – Sharif told reporters that he had asked the IMF to halt demands for economic reform in exchange for more financial aid. A global lender wants Pakistan to phase out remaining subsidies for petroleum products and electricity, aimed at helping households, before releasing the rest of the $6 billion deal negotiated by the previous government. But Sharif asked “how on earth” the extra burden can now be borne by the poorest in the country, describing the situation as “nightmare”. Guterres provided support. “Economic stability is very important,” he said, then quipped, “The day we all die, there will be perfect economic stability.” Pakistan, with the world’s fifth largest population of around 230 million people, generates less than one percent of global greenhouse gas emissions, but is one of the countries most vulnerable to extreme weather caused by global warming. – “Loss and damages” – Guterres also said that Pakistan’s “monsoon on steroids” proved the need for a “losses and damages fund” agreed at the UN climate summit COP27 in November, which could cover the climate-related damage faced by countries Developing . “If there is any doubt about the losses and damage, go to Pakistan,” he said. Among the countries and organizations that heeded the call for immediate aid, France pledged €360 million ($384 million) to the plan and an additional €10 million in humanitarian aid. Washington has pledged another $100 million for Pakistan’s reconstruction, doubling its contribution from its original announcement last August. And the Islamic Development Bank has pledged $4.2 billion in funding over the next three years. nl-bur/js

Leave a Reply

Your email address will not be published. Required fields are marked *