Islamabad: A USD 700-million aid was today pledged by several international organisations, including the World Bank, for the more than a million internally displaced people and flood victims in Pakistan.
The aid was announced at a donors' conference chaired by Finance Minister Ishaq Dar in Islamabad.
Global organisations such as Department for International Development of Britain, the World Bank, the Asian Development Bank, Islamic Development Bank, the European Union, Japan, Italy and others pledged the amount to support rehabilitation of people displaced due to military operations and floods in Pakistan.
The pledges were made on the basis of Recovery Need Assessments under which an amount of USD 1.4 billion was initially estimated, Radio Pakistan reported.
A Damage Need Assessment is underway and is expected to be completed next month, which would lead to further pledges and assistance.
Dar thanked the donors for their pledges and support and said an effective oversight mechanism that includes donors and development partners would be put in place for utilisation of the funds.
The mechanism would ensure complete transparency and accountability in all rehabilitation activities, he stressed.
The number of internally displaced people (IDPs) has dramatically increased in Pakistan as thousands abandoned their homes in North Waziristan and Khyber Agency and other tribal areas because of military operations against militants.
The already precarious situation was further aggravated by floods triggered by monsoon rains.
The flood in interior Punjab claimed over 250 lives and damaged nearly 137,000 houses. The raging flood waters eventually inundated parts of Sindh as well.
More than one million people are still living in makeshift camps, according to officials.