Thursday, October 14, 2010

DAWN.COM | World | Pakistan flood damage estimated at $9.7bn

BRUSSELS: The floods that swept Pakistan since July caused about 9.7 billion dollars in damage, almost double the amount caused by a 2005 earthquake, the World Bank and Asian Development Bank said Thursday.

The estimate was released by the two banks ahead of a key meeting in Brussels on Friday aimed at reviewing Pakistan's relief and recovery efforts.

The Friends of Democratic Pakistan meeting gathers 26 countries and institutions.

The estimate covers damage to infrastructure, farms, homes, as well as other direct and indirect losses, said the World Bank and Asian Development Bank (ADB).

That “is almost double the amount of damage caused by the 2005 Pakistan earthquake,” said Rune Stroem, ADB country director for Pakistan.

In carrying out the assessment, teams from the two banks examined the extent of the damage in 15 key sectors across Pakistan, looking at direct direct damage, indirect losses and reconstruction costs.

The agriculture and livestock sectors were the worst hit, followed by complete or partial damage to a large number of houses.

Roads were “hit hard particularly at the district and village levels, and irrigation facilities have also suffered serious damage,” a statement said.

One-fifth of the country was affected by the floods, with the populous southern Sindh province the worst affected, it added.

DAWN.COM | World | Pakistan flood damage estimated at $9.7bn

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