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Pakistan may not be accepting big loans from the World Bank (WB) and the Asian Development Bank (ADB) for reconstructing the flood affected areas, some news sources claim. It is said that Pakistan has started to rebuild the flood stricken areas by counting on its own resources.
The Economic Times (India), quoting Pakistan’s esteemed daily The News, reported that Finance Minister Hafeez A. Sheikh had informed WB and ADB that it was not interested in accepting loans worth $2 billion (from ADB) and $1 billion (from WB) to use in post-flood reconstruction of its destroyed infrastructure. Instead, Pakistan would like to use the aid received from the UN for the same purpose.
The news sources also tell that two provinces of the country – Khyber Pakhtunkhwa and Punjab – were against accepting the loans while Sindh liked the opposite. This move of Pakistan is one of the few in which the government has made a bold step and can be welcomed as a glimpse of hope for independence in an otherwise deluged entity on the receiving end.
Meanwhile, the media representative of the ABD has not yet confirmed the news, being not available for comments.
