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Press Release No:2006/222/SAR
WASHINGTON - The World Bank approved today a US$400 million Emergency Recovery Credit (ERC) to further support the earthquake recovery and reconstruction effort in Pakistan over a three-year period. The project will support the Government of Pakistan's efforts to reduce the immediate suffering and restore livelihoods; reconstruct housing; and help finance needed imports. This follows the Bank's initial commitment of US$475 million in October as part of the institution's overall pledge of US$1 billion for earthquake recovery.
WASHINGTON, December 1, 2005 - The following projects were approved today by the World Bank's Board of Executive Directors:
WASHINGTON, October 25, 2005 - The following projects were approved today by the World Bank's Board of Executive Directors:
IDA CREDITS: $200 million
TERMS: Grace period = 10 years; Maturity = 35 years
PROJECT DESCRIPTION: The main objective of these credits is to assist the Government of Pakistan in the reconstruction of areas devastated by the massive earthquake of October 8.
Press Release No:2006/129/SAR
WASHINGTON, October 25, 2005 - The World Bank today announced a package totaling US$470 million to assist the Government of Pakistan in the reconstruction of areas devastated by the massive earthquake of October 8.
The package comprises US$200 million in quick disbursing credits from the Bank's concessional International Development Agency (IDA), a US$100 million loan for highway reconstruction, US$130 million in additional credit financing for community infrastructure and US$40 million, announced last week, in reallocated IDA funding.
As relief operations continue in Pakistan, a new website has just been launched to help coordinate emergency assistance to the hundreds of thousands of people in need of aid.
Press Release No:2006/121/SAR
TOKYO Monday October 10 - World Bank President Paul Wolfowitz expressed his deep condolences to the people of Afghanistan, India and Pakistan struck by a huge earthquake Saturday. The Bank has committed an initial $20 million for recovery in Pakistan and committed the institution to further assistance as the needs became clearer.
"An earthquake of this magnitude will sadly cause great loss even as we don't yet have a full picture of the damage," said Wolfowitz. "The Bank stands ready to help as it can, based on its experience of disasters around the world.
Press Release No:2006/107/SAR
WASHINGTON, Tuesday, October 11, 2005 - Respectful of the grim rescue operation that will continue in earthquake-hit South Asia for days to come, the World Bank is scrambling teams of disaster reconstruction experts and immediately available money, doubling its initial commitment to hardest-hit Pakistan to US$40 million.