Pakistan fails to get adequate amount of money from ADB

Pakistan has failed to receive an adequate amount of money from the World Bank during 2010-11, as the country received just $366 million against the commitment of $1.553 billion, while it repaid to World Bank $341 million during the last fiscal year.
The World Bank Annual Report 2011 reveals that World Bank''s IBRD and IDA commitments to Pakistan were $1.553 billion for 2010-11 with undisbursed balance of $2.104 billion pertaining to previous years.
World Bank disbursed only $807 million to Pakistan and the country made repayments worth $341 million to World Bank in 2010-11 whereas net disbursements to Pakistan amounted to 465 million and after excluding $99 million interest and charges Pakistan actually received $366 million against the commitment of $1.553 billion during 2010-11.
According to the report, World Bank committed to Pakistan $6.490 billion IBRD and IDA assistance during 2006-2011 and $2.104 billion undisbursed balance was also to be paid to Pakistan. World Bank disbursed to Pakistan $5.255 billion, while the country made repayment of $2.481 billion to World Bank in that year, due to which net disbursement to Pakistan amounted to $2.774 billion.
World Bank charged from Pakistan $861 million as interest on loans and other charges and finally net transfers to Pakistan during 2006-11 came to $1.913 billion. The 2009 military crisis in Khyber Pakhtunkhwa (KPK) and the Federally Administrated Tribal Areas led to one of the worst security crises in Pakistan''s history.
The report says that 2009 military crisis in KPK displaced millions of people and severely disrupting lives, livelihoods, and the provision of public services. The report shows that the massive flooding in Pakistan in July and August 2010 killed 2,000 people and left about one-fifth of the country under water, affecting more than 20 million people-more than one-tenth of the population.
About 1.6 million homes were destroyed and thousands of acres of crops and agricultural lands damaged, with major soil erosion in some areas. The report says that the Bank responded with an initial $300 million to finance the purchase of critical imports, such as food, medicine, tents, construction materials, machinery, and fuel, and an added $20 million was included in the Third Additional Credit for the Highways Rehabilitation Project, specifically for use in the areas damaged by the floods.
An additional $125 million in unconditional cash transfers to victims of the flood was also approved this fiscal year. At the request of the government, the Asian Development Bank and the World Bank jointly conducted a damage and need assessment, which estimates that an amount of $8.7 billion-$10.9 billion is needed for recovery from and reconstruction associated with the floods.
The report discloses that in January 2010, the Bank''s Board approved the creation of a multi-donor trust fund designed to restore infrastructure, services, and livelihoods in the conflict-affected areas. The trust fund became operational in fiscal 2011, with 10 donors contributing $140 million.