World Bank loan not in jeopardy, pledges exceed requirement.

ISLAMABAD -- Ministry of Planning Development and Special Initiatives (PDSI) on Saturday said that the World Bank loan amounting to $400 million for flood relief is not in jeopardy and that pledges made by donors exceed the requirement.

In a press release, it clarified that as per the financing agreement agreed in the 4RF (Rehabilitation and Reconstruction Framework), the external financing required is $8.15 billion for three years.

Against that requirement, the government has successfully obtained pledges worth $10.9 billion, which is $2.70 billion in excess of the requirement.

It further said that the ministry has so far approved 13 projects from the Central Development Working Party (CDWP) and

Executive Committee of the National Economic Council (ECNEC) worth $3 billion, which is way ahead of the yearly target.

Moreover, project identification against committed project commitments by the donors is complete.

The PDSI is committed to the timely and effective implementation of the 4RF to ensure that the flood-affected people are rehabilitated and reconstructed as early as possible.

The PDSI has also established a robust mechanism for the implementation and monitoring of the 4RF. There is a high-level Policy and Strategy Committee headed by the Planning Minister...