In a statement, the ADB said that the package is designed to “support people, livelihoods, and infrastructure immediately and in the long-term. Following the devastating floods in Pakistan, ADB is working quickly to provide a significant package of relief and rehabilitation."
For the short and medium term, the ADB plans to repair the damaged infrastructure including roads and the irrigation sector. The bank will also work towards securing the development and financial stability of the agriculture sector to ensure food security in the crises hit nation.
"We're also processing countercyclical support to help the poor and vulnerable, especially women and children, whether the impacts of food prices and other external shocks," the ADB said.
For the long term, the bank plans to priorities projects that support post-flood reconstruction and strengthen climate and disaster resilience.
"We will provide more details of our new assistance package when it is finalized. We will work closely with the government and other international agencies to help rebuild the lives and livelihoods of the more than 33 million people affected by the disaster," the bank said.
The floods have caused around $40 billion in damage to the country's already fragile economy. Pakistan is experiencing the worst inflation in decades, and its foreign currency reserves are rapidly dwindling.
The United Nations' emergency relief fund announced an additional $7 million aid package for Pakistan apart from the already announced $160 million emergency plan to reach 5.2 million of the country's most vulnerable citizens.
Flooded areas have become a breeding ground for a variety of water-borne diseases, with over 90,000 people being treated for ailments such as malaria, dengue fever, diarrhea, and skin problems, among others.
Hollywood star Angelina Jolly visits Sindh
Angelina Jolly visited the flood-hit areas of the Sindh province of Pakistan to support relief efforts. Sindh is badly affected not just by floods but also by water-borne diseases which are rising their heads as the water is receding.
Pakistan Journalist Moin Zubair tweeted a picture of the Hollywood actress visiting flood hit areas.
