Flood survivors: government to provide $460 million to one million households

Over the course of monsoon season in July and August 2010 Pakistan experienced worst floods in its recorded history. Heavy rainfall caused flash and riverine floods, disrupting livelihoods of nearly 20 million people of Pakistan, destroying/damaging approximately 1.8 million homes and affecting 2.4 million hectares 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 rupees 100,000 as cash grant and immediately paid rupees 20,000 to each family in the notified flood affected districts across the country. Government of Pakistan has envisioned implementation of a second phase of CDCP aimed at complementing governmental assistance to affectees by providing US $460 million to at-least one million households.
Vincenco Prati, Ambassador of Italy as an Additional International Development Partner for joint support to CDCP-II signed concurrence note to the memorandum of understanding already signed 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.-PR