World Bank approves 125-mn-dollar support for Pakistan flood victims
March 31st, 2011 - 5:19 pm ICT by ANIIslamabad, Mar 31(ANI): The World Bank has approved a 125-million-dollar credit for the Flood Emergency Cash Transfer Project designed to support the Pakistan Government’s Citizen’s Damage Compensation Programme (CDCP) for providing cash transfers to over one million Pakistani households affected by last year’s floods.
The total programme-financing requirement for the CDCP is approximately 580 million dollars, of which the government has committed to provide 100 million dollars as counterpart funding to match the approximately 480-million-dollar donor funds.
The CDCP is expected to receive confirmed parallel financing from USAID, whereas Italy and the Department For International Development are in the process of formalising their contributions to the programme, the Daily Times reports.
France, Australia, and Canada are also considering providing support to the CDCP, the report said.
In addition to the financing of almost 400 million dollars of cash grants in Phase I of the programme, the government has committed another 100-million-dollar cash grant for Phase II of the CDCP.
The Pakistan Government, the co-financing donors and the International Development Association will enter into a Memorandum of Understanding (MoU), committing the necessary resources for the CDCP as a condition of effectiveness.
The project will also strengthen the management of the Citizen’s Damage Compensation Programme through effective grievance redressal mechanisms and the establishment of control and accountability measures to ensure efficient and transparent delivery of the cash support. (ANI)
- US gives $193 mn for Pakistan's flood-hit families - Jun 14, 2011
- China announces 410mn-dollar assistance for Pakistan flood victims - Dec 18, 2010
- World Bank approves 285-mn-dollar credit for Pak's 'militancy crises affected areas' - Jan 22, 2011
- USAID freezes 250-mn-dollar aid project in Pakistan over HEC devolution issue - Apr 05, 2011
- Donors urge Pak to implement "painful" reforms for additional resource mobilisation - Nov 16, 2010
- Pak unable to provide cash compensation to flood victims before March 2011 - Feb 05, 2011
- US gives $40 mn for Bangladesh health sector - Apr 09, 2012
- World Bank stresses transparency, accountability in Pak flood aid utilisation - Sep 10, 2010
- USAID has not put any funding for Pakistan's HEC on hold: US Embassy - Apr 07, 2011
- World Bank announces 900 million dollar grant for Pak flood victims - Aug 13, 2010
- ADB approves 650-mn-dollar loan to help Pakistan rebuild flood-hit infrastructure - Mar 31, 2011
- Pak shock over "Anti-Fraud Hotline" project to monitor entire Kerry-Lugar aid - Sep 23, 2010
- Pakistan owes $53 bn foreign debt - Dec 24, 2010
- New US programme seeks to execute half of Kerry-Lugar aid to Pak by 2012 - Oct 28, 2010
- Pak assures ADB of employing anti-corruption measures for $650mn flood project loan - Apr 30, 2011
Tags: 100 million, accountability measures, cash grants, cash transfers, cdcp, counterpart, dollar cash, dollar credit, dollar support, donor funds, emergency cash, flood emergency, flood victims, floods, grievance, memorandum of understanding, necessary resources, one million, pakistan government, usaid