International donors on January 9 committed over $10 billion to help Pakistan recover from ruinous floods last year, exceeding its external financing goals and paving the way for a new model of raising funds to fight climate disasters in poorer countries, Aaj News reported.
Officials from some 40 countries as well as private donors and international financial institutions gathered at a meeting in Geneva as Islamabad sought funds to cover around half of a recovery bill amounting to $16.3 billion.
The meeting’s co-hosts, the United Nations and Pakistan’s government, said more than $10 billion had been pledged from bilateral and multilateral partners.
PBS News Hour: Millions in Pakistan remain displaced from last summer’s devastating floods, which left one-third of the country underwater. On Monday, the U.N. and Pakistan will host a conference in Geneva with the goal of raising more funds to help survivors. Fred de Sam Lazaro reports from hard-hit Sindh province, while Masood Khan, Pakistan’s ambassador to the U.S., joins John Yang to discuss. — Video courtesy: PBS News Hour