57.75 Euro Million Contribution of Italian Government to the second phase of Pakistan Citizen Damage Compensation Programme

57.75 Euro Million Contribution of Italian Government to the second phase of Pakistan Citizen Damage Compensation Programme

Islamabad: Over the course of the monsoon season in July and August, 2010 Pakistan experienced the worst floods in its recorded history. Heavy rainfall caused flash and reverine floods, disrupting livelihoods of nearly 20 million people of Pakistan, destroying/damaging approximately 1.8 million homes and affecting 2.4 million hectors of cropped land. This flood mostly hit the poor households, which do not have savings or assets to sell to finance their own livelihood recovery efforts.

Hence, they were in need of immediate financial help. Federal Government with the active participation of foreign donors announced Rs.100,000 as cash grant and immediately paid Rs.20,000 to each family in the notified flood affected districts across the country. Government of Pakistan has envisioned the implementation of a; second phase of the CDCP aimed at complementing the governmental assistance to affectees by providing payment of Rs.40,000 (US $ 460 million) to at least 1 million households.

Today on 04-08-2011, Mr. Vincenco Prati, Ambassador of Italy as an Additional International Development Partner for the Joint Support to CDCP-II signed Concurrence Note to the Memorandum of Understanding already singe 1 on 9th June, 2011 between the International Development Association, USA and Government of Pakistan. The Italian Government has indicated its desire to contribute to contribute 57.75 million Euro as soft loan to this effect.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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