UN CHIEF CALLS FOR ‘MASSIVE INVESTMENTS’ TO HELP PAKISTAN RECOVER

Mon 09 January 2023:

In the aftermath of disastrous floods, U.N. Secretary-General Antonio Guterres on Monday appealed for widespread assistance to aid Pakistan with a $16 billion rebuilding effort. He claimed that the country had been a victim of both the global financial system and climatic catastrophe, Reuters reported

Officials from more than 40 countries, as well as private donors and international financial institutions, are meeting in Geneva to discuss Islamabad’s request for assistance in what is expected to be a major test case for who pays for climate disasters.

September’s floods, which are still receding, killed at least 1,700 people and displaced around 8 million.

“We must match the heroic response of the people of Pakistan with our own efforts and massive investments to strengthen their communities for the future,” Guterres said in opening remarks.

“Pakistan is doubly victimized by climate chaos and a morally bankrupt global financial system,” he added, calling for creative ways for developing countries to access debt relief and financing.

Pakistan’s Prime Minister Shehbaz Sharif called for a new “coalition of the willing” to provide the country with a lifeline, saying it needed $8 billion over the next three years.

In a video message, France President Emmanuel Macron pledged $10 million in additional aid support.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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