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News Update: The World Bank Increases Pakistan Flood Support To $1 Billion

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Published on Sep 2, 2010

"The World Bank has raised further funding in order to help Pakistan deal with catastrophic flooding, giving another $100 million, bringing the total funding to $1 billion, the bank said in a statement today.

The funds were already earmarked for Pakistan, but they are being diverted to help stem the problems arising from the flooding.

The statement said they will come from the International Development Association, the bank's fund for the poorest countries, and do not carry interest payments.

President of the World Bank Robert Bruce Zoellick also told Pakistan's finance minister, Abdul Hafeez Shaikh, that continued reform in areas of the economy, institutions and government were critical if they wish to maintain donor confidence."

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