This envelope will be destined for the reconstruction of Pakistan, which was hit by historic torrential rains this summer, the president announced on Monday.
Head of State Emmanuel Macron announced on Monday January 9 that France would provide €360 million in projects to help rebuild Pakistan, which is still reeling from the aftermath of last year’s devastating floods.
“We have therefore decided to mobilize a total of 360 million euros in projects in Pakistan that will be launched to meet the challenge of resilient reconstruction and thus climate adaptation,” said Emmanuel Macron via video conference at the opening of an international conference between the United Nations and Pakistan to help this country mobilize half of the $16.3 billion needed for sustainable recovery.
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Emergency aid of 10 million euros
Emmanuel Macron announced that France is ready to participate in the international support group that will allow Pakistan to help implement international aid, and also announced an additional emergency aid contribution of 10 million euros.
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Pakistan was hit by unprecedented monsoon rains over the summer, flooding a third of the country, damaging two million homes and killing more than 1,700 people. “We must show that when a country faces a shock of this magnitude, the international community, and in particular all financial institutions, are able to mobilize to help it recover more resiliently,” stressed the French leader.
“Rebuilding a Sustainable North-South Partnership”
He also stressed the goal of “taking all the consequences of what just happened and supporting the Pakistani authorities in carrying out all reforms and (…) and in this reconstruction by being consistent in the framework of international finance”. He continued: “I hope that in the short term we can support Pakistan precisely in these renegotiations with the multilateral financial agencies”.
More broadly, he called for “rebuilding a sustainable North-South partnership” and stressed that this was the aim of a conference to be held in Paris next June. This conference “is intended to help and lay the groundwork for a profound overhaul of the rules of the World Bank and IMF, but more broadly our funding rules, to draw all the consequences of these climate impacts,” he said. . .
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