Pakistan floods caused $9.7bn damage
Islamabad, October 14, 2010
Pakistan's floods caused an estimated $9.7 billion in damage to the country's infrastructure, farms and homes, the Asian Development Bank (ADB) and World Bank said on Thursday.
A damage and needs assessment conducted by the two banks said agriculture -- the mainstay of the economy - and livestock were the worst hit by the disaster, which hammered an economy already fragile before the floods hit.
The floods, which began in late July, left more than 10 million people homeless and affected 20 million.
"The floods that swept across Pakistan since July caused an estimated $9.7 billion in damage to infrastructure, farms, homes, as well as other direct and indirect losses," said an ADB and World Bank statement.
The two banks assessed 15 key sectors across Pakistan and the estimate included direct damage, indirect losses and reconstruction costs. - Reuters