Pakistan flood damage put at US$ 9.7 billion
14 October 2010
A 'Damage Needs Assessment' report by the Asian Development Bank (ADB) and World Bank has put the damage caused by July's floods in Pakistan at US$ 9.7 billion. The figure covers damage to infrastructure, farms, and homes as well as other direct and indirect costs.
"US$ 9.7 billion is almost double the amount of damage caused by the 2005 Pakistan earthquake," said ADB Country Director for Pakistan, Rune Stroem.
Rachid Benmessaoud, the World Bank Country Director for Pakistan added, "Our job as friends of Pakistan is to help the country respond to this enormous reconstruction challenge."
The report looked at 15 key sectors to estimate direct damage, indirect losses and reconstruction costs. It found the greatest impact had been in the agricultural sector due to the loss of livestock. Loss of housing was also a major issue, as was the damage caused to roads at a district and village level. Irrigation systems were also badly affected.
The July floods affected a fifth of Pakistan, with the southern Sindh province hardest hit.