Pakistan: World Bank estimates floods caused $40B in damages

Oct 18, 2022, 1:53 PM | Updated: Oct 19, 2022, 1:55 am

FILE - Homes are surrounded by floodwaters in Sohbat Pur city, a district of Pakistan's southwester...

FILE - Homes are surrounded by floodwaters in Sohbat Pur city, a district of Pakistan's southwestern Baluchistan province, Aug. 29, 2022. The devastation wreaked by floods in Pakistan this summer has intensified the debate over a question of climate justice: Do rich countries whose emissions are the main cause of climate change owe compensation to poor countries hit by climate change-fueled disasters? (AP Photo/Zahid Hussain, File)

(AP Photo/Zahid Hussain, File)

ISLAMABAD (AP) — Pakistan said Wednesday that the World Bank estimates this summer’s record-breaking floods have caused $40 billion in damages in this impoverished South Asian nation. The figure is $10 billion more than an earlier estimate by the Pakistani government.

Cash-strapped Pakistan was already facing a serious financial crisis before the heavy monsoon rains hit in mid-June. The rains triggered unprecedented floods that at one point left a third of the country’s territory submerged, forcing hundreds of thousands of people to move to safer places.

The new assessment came during a meeting in the capital, Islamabad, between Prime Minister Shahbaz Sharif and experts on climate change. There was no immediate word from the World Bank on the new estimate.

The flooding, which experts say is made worse by climate change, has killed 1,719 people and affected 33 million since mid-June. The waters have damaged or washed away 2 million homes.

Sharif’s government last month offered an estimate of $30 billion from the floods but cautioned that the real figure may be far higher. A final report on the damages is yet to be finalized with the help of international aid agencies and lending institutions, including the World Bank.

The United Nations has revised its appeal for aid for Pakistan five-fold, to $816 million, from the initial $160 million, saying recent assessments about the damages caused by floods pointed to the urgent need for long-term help, lasting into next year.

A government statement following Wednesday’s meeting between the premier and the newly formed Pakistan Climate Change Council quoted an often-repeated statement by Sharif that despite having less than 1% share in global carbon emissions, Pakistan is among 10 countries most affected by climate change.

Sharif also said that he hopes the U.N. climate conference in Egypt next month — for which the Pakistani prime minister was recently nominated as vice-chairman — will offer Pakistan “an opportunity to present its stance on the vulnerability of the developing world with regard to the effects of climate change.”

According to government officials, more than half of the flood victims in Pakistan’s worst-hit Sindh province have returned to their homes over the past three weeks after floodwaters receded there and elsewhere in the country, including Baluchistan, where the U.N. estimates that floods damaged 43% of crops.

The flood-related fatalities have included 345 women and 641 children. The U.N. says 7 million women and children require immediate access to food.

Pakistan wants the world community to scale up aid for flood survivors, now also threatened by waterborne diseases, malaria and dengue fever. Experts say people in flood-hit areas will face a harsh winter this year and that aid is urgently needed.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


jerry west...

Tim Reynolds, The Associated Press

Jerry West, a 3-time Hall of Fame selection and the NBA logo, dies at 86

Jerry West, a three-time Basketball Hall of Fame inductee whose silhouette is considered to be the basis of the NBA logo, died Wednesday morning.

3 hours ago

Photo: Construction vehicles are parked outside of the Station U & O building on Tuesday, June 11, ...

Haleluya Hadero, The Associated Press

Amazon adds $1.4B to affordable housing fund for regions where it has corporate offices

Amazon is adding $1.4B to a fund for building more affordable housing in regions where the company has major corporate offices.

17 hours ago

hunter biden...

Randall Chase and the Associated Press

Hunter Biden convicted of all 3 felony charges in federal gun trial

Hunter Biden has been convicted of all three felony charges related to the purchase of a revolver in 2018, but no sentencing date was set.

1 day ago

Photo: A Bremerton man who made 20 "swatting" calls around the U.S. and in Canada, prompting real e...

Associated Press

Bremerton man sentenced for 20 ‘swatting’ calls of false threats in US, Canada

A Bremerton man who made 20 "swatting" calls around the U.S. and in Canada, prompting real emergency responses, has been sentenced.

2 days ago

Image: U.S. Secretary of Defense Lloyd Austin, left, speaks with Ukraine's President Volodymyr Zele...

Associated Press

Ukraine uses US weapons to strike inside Russia, a Western official tells AP

Ukraine has used U.S weapons to strike inside Russia in recent days, according to a Western official familiar with the matter told the AP.

7 days ago

boeing nasa...

Marcia Dunn, The Associated Press

Boeing launches NASA astronauts for the first time after years of delays

Boeing launched astronauts for the first time Wednesday, belatedly joining SpaceX as a second taxi service for NASA.

7 days ago

Pakistan: World Bank estimates floods caused $40B in damages