According to the Asian Development Bank (ADB)’s annual report, the bank financed projects over thirty billion in Asia.
According to Baaghi TV reports, on the one hand, in 2022, the ADB financed projects worth 31.8 billion in Asia, on the other hand, the Russo-Ukraine war remained a leading cause of inflation at the global level, as experts work to provide services to curb the rising threat of climate change.
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According to the report, Pakistan’s economy was most damaged by the 2022 flash floods that devastated crops across the country. In turn, affecting the balance of supply and demand in the country, resulting in heightened inflation.
Per the report, the ADB and its partners financed projects worth 5.5 billion dollars in Pakistan. Apart from this, the ADB issued concessional loans of up to 2.6 billion dollars to Pakistan, in 2022.
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According to the report, 1,730 lives were lost due to the floods in Pakistan, with another 33 million others affected and an approximate loss of thirty billion dollars to the state economy. Furthermore, the report highlighted that 16 billion dollars were promised for rehabilitation efforts across flood-affected areas, of which 1.5 billion were provided to Pakistan.
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