Published: December 15, 2022 17:33:00 | Updated: December 17, 2022 10:00:20
Pakistan has signed a $475 million loan agreement for flood relief with the Asian Development Bank (ADB), the country's economic affairs minister said on Thursday.
"This concessionary loan, at 1.0 per cent for a period of 40 years, was signed today," Ayaz Sadiq said.
The floods, caused by abnormal monsoon rains and glacial melt, submerged huge swathes of the country earlier this year and killed nearly 1,700 people, the majority of them children and women, reports Reuters.
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