Pakistan needs $16.261 billion to recover from losses and damages it sustained in the wake of this year's flash floods, which caused widespread destruction and loss of lives across the country, found the 'Post Disaster Needs Assessment (PDNA)' report, released by the government on Friday.

As per the report, Pakistan sustained damages to the tune of $14.91 billion and losses of over $15.23 billion.

The development comes after record monsoon rains in south and southwest Pakistan followed by glacial melt in northern areas triggered flooding that impacted nearly 33 million people in the South Asian nation of 220 million, killing over 1,700 persons, while sweeping away homes, crops, bridges, roads and livestock.

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Last week, the World Bank estimated that floods have caused $40 billion in damages in Pakistan. The figure is $10 billion more than an earlier estimate by the Pakistani government.

Meanwhile, the PDNA report found that the province of Sindh was the worst hit by floods, which endured damages of $9.068 billion and losses of $11.376 billion. The report highlighted that the southern province needs $7.86 billion to recover.

Furthermore, the country’s housing sector, after millions of houses collapsed during floods, needs $2.757 billion, while the transport and communication sector requires $4.994 billion.

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The PDNA was formed to assess the impact of the disaster on the population, physical assets, and service delivery; conduct a preliminary estimate of infrastructure reconstruction and service delivery restoration needs in the short, medium, and long term; contribute to a resilient recovery and reconstruction strategy and a coordinated national and international effort.

The scope of the report included 94 calamity-hit districts as of October 11, and the assessment featured 17 sectors, grouped across four thematic areas and a macroeconomic and human impact analysis, it said.

The report warned that the floods would likely hamper progress towards the achievements of the UN Sustainable Development Goals in Pakistan by 2030. It said that 8.4 to 9.1 million people would be pushed into poverty, while an additional 7.6 million people would face food insecurity.

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Moreover, 17 million women and children are at a greater risk of preventable diseases, while 4.3 million people would lose their jobs, it said.