The Asian Development Bank released the highest amount of to Pakistan in the year 2022, according to the bank’s annual report.

The report states that the ADB and its partners provided US $5.5 billion for projects in Pakistan. Concessional loans worth US $2.6 billion for Pakistan were also authorised,the report said.

According to the bank’s annual report, the Asian Development Bank overall provided 31.8 billion dollars in project funding in Asia.

In Pakistan, devastating floods caused the greatest economic damage in 2022. According to the report, these unprecedented floods destroyed crops and tipped the country’s supply and demand equation out of balance.

“Around 16 billion dollars were pledged for rehabilitation of the flood hit areas,” ADB said. “US $1.5 billion provided to the country for rehabilitation of flood affected areas”.

“Unprecedented floods in Pakistan claimed 1730 human lives and affected 33 million people across the country. The flood inflicted 30 billion dollars losses to the national economy,” the report stated.

The report stated that destruction of crops also hiked prices in the local market “The conflict between Russia and Ukraine caused inflation at the global level,” the bank’s annual report said.

“Pakistan required the expets on climate change to avoid losses inflicted by the change in weather patterns,” ADB report stated. “The ADB providing services of the experts to the country to avoid hazards of rapid changes in climate”.