November 19, 2005

Pakistan Gets Pledges of $5.4 Billion to Rebuild After Quake

From Bloomberg:

Pakistan gained pledges of $5.4 billion from international donors and lenders, more than the south Asian nation was seeking, to rebuild cities and rehabilitate people devastated by last month's earthquake.

The magnitude 7.6 earthquake struck the northern Himalayan territory of Kashmir on Oct. 8, killing more than 74,000 people and leaving millions homeless. About 73,000 people died in Pakistan-controlled Kashmir and the North West Frontier province, and as many as 1,300 people in the Indian-run part of the region...

The Asian Development Bank approved $1 billion in aid, Haruhiko Kuroda, president of the bank, told the conference. ``The bank will help Pakistan construct special homes for destitute women and children and will also help set up a seismic center and construct roads,'' he said.

Other aid announced at the conference included $500 million from the U.S., $375 million from the International Monetary Fund, $170 million from the UK, $150 million from Turkey and $110 million from the European Union...