World Bank to loan Pakistan $900million

[Turborama]

Source: Al Jazeera English

Updated on: Tuesday, August 17, 2010 08:19 GMT -

The World Bank has agreed to provide a $900 million loan to flood-hit Pakistan, saying the economic impact of the disaster on the country's economy is expected to be "huge."

The funding will come from the International Development Association, the World Bank's arm for low-income countries, a bank statement said on Monday. "The government of Pakistan has requested around $900 million of financial support from the World Bank, which we have committed to provide," the statement said..

=snip=

Islamabad last week asked the World Bank, the Asian Development Bank (ADB) and the United Nations to carry out assessments in the flood-hit areas in relation to damages, needs and recovery initiatives. The two banks and the UN "will collaborate through participation and sharing of information on their respective assessments, and will also regularly co-ordinate with key donors," the World Bank said.

=snip=

Reconstruction

The cost of rebuilding Pakistan could exceed $10 to $15 billion, the country's high commissioner to Britain said on Monday. "It will take at least five years," High Commissioner Wajid Shamsul Hasan told the Reuters news agency.

Read more: http://english.aljazeera.net/news/asia/2010/2010/08/201081754235212718.html

[midnight]

1. It was recently discovered that loads of tarp money was

given to foreign banks instead of main street for underwater mortgages, and small business loans. I find this move very interesting.

[Turborama]

2. Is that some kind of sick joke? n/t

[midnight]

3. I don't think so.

[Turborama]

4. What does TARP & US "underwater mortgages" have to do with the World Bank & Pakistan's floods?

Also, what word in that sentence isn't appropriate considering the circumstances the OP is describing?

[Bigmack]

5. A little over $5 for every Pakistani...

considering how many of those bucks will be siphoned off to the various Pakistani banksters... not a lot of that will filter down to improve the lives of Joe Pakistani.

[cosmicone]

6. Over half that money will go to defense contractors as

Pakistan buys fighter jets, tanks, missiles, frigates and radar systems.

Al Q'aeda has no navy and no air force, but Pakistan bought submarines, frigates and multi-role F-16s, P3 orions and C-130s with the aid given to combat Al Q'aeda (see GAO report) and from the 2005 earthquake relief.

[OhioChick]

8. Dupe n/t

[sabrina 1]

14. Lol, broken record might be a better description.

[sabrina 1]

12. The U.S. buys far more fighter jets, tanks, missiles

frigates and radar systems and has killed far more innocent civilians with them than any terrorist could dream of.

Should we have allowed people to drown in NOLA in case some of the money pledged by other nations might not get to the people who needed it? And btw, how much of the billions donated actually did get to those American citizens?

Your constant whining about politics in the face of the magnitude of this disaster is disturbing to say the least.

The current government of Pakistan is not the Military Junta that ruled the country for decades. To deprive them of the opportunity to help their own people, would ensure a coup by the military.

Hopefully the world is beginning to grasp that reality and will do whatever they can to help the people there, even if it's not entirely for altruistic reasons.

Hopefully the reality of a collapsed state has dawned even on those who would prefer to let people die rather than set aside their own personal grievances just for a while.

[cosmicone]

15. It is not just me, the whole world is skeptical ....

<snip> Pakistan’s civilian rulers have tried to highlight this aspect to drum up more aid from world community, but till last weekend its appeal was met with skepticism given Islamabad’s own dodgy use of militant groups to further its strategic depth, a concept which Kayani defended till recently. But that depth now appears to have been washed away; on Tuesday, Pakistan faced the mortifying spectacle of Afghanistan giving it $ 1 million in flood aid, even as it sat on India offer of $ 5 million in aid with more to follow.

The neighbourly concern from countries that Pakistan has tried to undermine for long is in sharp contrast to the indifference, based on suspicion about Islamabad’s bona fides, from most of the world community. As of last weekend, the Indian aid offer topped France ($ 1.5 million), Germany ( $ 2.4 million), Italy ( $ 1.8 million) , Netherlands ( $ 1.3 million). Sweden ($ 3 million), and a host of other wealthy countries.

International experts attribute the cautious and tentative response by the world community to the trust deficit – as also donor fatigue -- arising from the Pakistani establishment’s deep and long ties to terrorism. "We note often an image deficit with regards to Pakistan among Western public opinion," Elizabeth Byrs, spokeswoman of the UN Office for the Coordination of Humanitarian Affairs, bluntly stated over the weekend, even as she and other experts questioned the logic of punishing millions of flood victims for the policies of the country's militarized establishment.

Pakistan's image deficit became evident in the poor response to Secretary of State Hillary Clinton’s appeal for $ 10 individual donation through text messages for flood relief – an effort that brought in only thousands of dollars in the first few hours compared to the millions which rolled in for the Haiti earthquake and tsunami relief funds.</snip>

Read more: ISI's sudden turnaround: Says terror bigger threat than India - Pakistan - World - The Times of India http://timesofindia.indiatimes.com/world/pakistan/ISIs-sudden-turnaround-Says-terror-bigger-threat-than-India/articleshow/6326267.cms#ixzz0wuaqENvF

Now Pakistan is window-dressing at the last minute but it will be too little too late.

A better strategy would have been to get money in exchange for disarming, but the Pakistani government's and military's ego would rather sacrifice its own people. Please blame THEM instead, where the blame really belongs.

[sabrina 1]

16. Lol, the 'whole world' from an understandably biased source.

So, the Bush propaganda against Muslims may now result in thousands more deaths of innocent people? That's the gist of that article, an acknowledgement of the hate-filled propaganda against Muslims to justify two brutal wars.

We note often an image deficit with regards to Pakistan among Western public opinion," Elizabeth Byrs, spokeswoman of the UN Office for the Coordination of Humanitarian Affairs, bluntly stated over the weekend, even as she and other experts questioned the logic of punishing millions of flood victims for the policies of the country's militarized establishment.

She was kind. 'Image deficit', is that the new way to describe Bigotry, which this world is not unfamiliar with?


You must be proud of your advocacy for the deaths of innocent civilians. For what purpose? How does letting women and children, the elderly, infirm and disabled, the sick the poor, die help your cause whatever it is? What IS your cause btw? It's not clear, although you seem bound and determined to do whatever you can to prevent victims of a disaster from getting any help. I am not familiar with too many people who think this way.

[cosmicone]

18. It is not about Islam ..

Indonesia is the most populous muslim country but it attracted billions in aid after the tsunami. Why? Because Indonesia doesn't have trained terrorist organizations actively funded by its government to cause mischief month after month.

India has more muslim citizens than Pakistan and despite dozens of bombings and other terrorist incidents perpetrated by Pakistan across India, Indians offered to help. I am proud that they did. What was Pakistan's response?

[JCMach1]

7. And for every 1 dollar that gets to the people 10 will be sucked up in corruption

[OhioChick]

9. Just like the US! n/t

[Turborama]

11. Yeah, why is everyone so "high and mighty" about this when America's politics is so damned corrupt?

I'm not saying it has anything to do with racism/bigotry or Islamophobia, I'm just wondering.... why do so many people seem to feel as if they are in a position to be so judgemental and arbitrary during this critical time for the people of Pakistan (tens of thousands, if not hundreds of thousands, of whom are still stranded in massive floodplains without access to any food or drinking water) when what's really needed is empathy, love and compassion?

Where's the empathy, love and compassion (and the anger at the slow pace of relief getting to the people) that everyone had when the Haiti earthquake happened? It's not as if their government were angels.

[girl gone mad]

10. If Pakistan has any sense..

they will turn the money down.

[sabrina 1]

13. Sadly I don't think they are in a position to do that right now.

But I know what you mean .... the country is in a state of emergency and the response for the world community has differed greatly from their response to other disasters. Imo Islamophia has a lot to do with that as well as some other factors.

The reichwing scape-goating has been very successful ...

[blaze]

17. I hope the people in need

get the help they need.

My heart hurts.