The federal government of Pakistan is making efforts to unlock $1.3 billion in financing in this fiscal year, part of a cumulative $10 billion in pledges secured at the Geneva Donors Conference in January 2023, high-level sources told Raised by Numbers.

Sources said that the targeted amount includes $1 billion in pledged project financing, supplemented by an additional $300 million. The Ministry of Planning and the Ministry of Economic Affairs have finalized plans to unlock these funds, which are earmarked for flood recovery, rehabilitation, and construction projects.

To date, Pakistan has received $3 billion from the Geneva Donors Conference. The country aims to secure up to $10 billion in project financing from these donors by 2027. The funds will be allocated between provincial and federal authorities to support the rehabilitation and development of flood-affected areas.

The financing will be provided by international organizations such as the World Bank, the Asian Development Bank, and the Asian Infrastructure Investment Bank.