Islamabad: Pakistan will receive Rs665 billion for the Flood Protection Sector Project-III (FPSP) from the Asian Development Bank (ADB) and Islamic Development Bank (IsDB). The financial aid will help Pakistan to initiate projects to combat climate change and flood disasters.
According to sources within the Economic Affairs Division (EAD),
the ADB will provide $400 million, and IsDB had agreed to finance with an amount of $265 million. Other than that the country also expects a contribution of $100m in the form of a Chinese grant. Reportedly, the loan will help launch projects in all four provinces, including Azad Jammu & Kashmir and Gilgit-Baltistan under the Flood Protection Sector Project-III (FPSP). The federal government will repay the federal component of the loan. Meanwhile, the provincial part of the loan will be shared by the federal and provinces on a 50/50 basis.
A steering committee led by the Ministry of Planning will oversee project implementation on a quarterly basis. The committee will also include members from water resources, planning, aviation, provincial chief secretaries and irrigation secretaries. The Chairman of Wapda and the federal flood commission, member water planning commission, and chief engineer of floods will also take part in projects.
Flood Protection Sector Project-III (FPSP) include the expansion of flood protection facilities with interventions, restoration, and remodelling. Stationary and mobile weather radars would be installed in Quetta, Karachi, Hyderabad, Peshawar, Gilgit, Multan and Muzaffarabad for monitoring flash floods. Flood telemetry equipment would also be installed in D.G. Khan, Rajanpur and Kirthar ranges.
