Islamabad, 11 November, 2026 (Ghufran): The Asian Development Bank (ADB) has approved $500 million in emergency financing for Pakistan to strengthen its capacity to respond to natural disasters and mitigate their economic and social impacts. Under the facility, Pakistan will receive immediate budgetary support in the event of floods, earthquakes or other natural calamities, helping ease pressure on the national economy and public finances. According to the ADB, Pakistan suffers average annual losses of around $2 billion due to floods, earthquakes and other natural disasters. The devastating floods of 2022 alone caused an estimated $14.9 billion in direct damages and $15.2 billion in economic losses, pushing approximately 9.1 million people into poverty. Poor and rural communities are particularly vulnerable to natural disasters, with women and girls often facing disproportionate hardships. The financing has been approved under the second phase of the ADB’s Climate and Disaster Resilience Enhancement Programme, which will support reforms aimed at improving disaster preparedness, strengthening risk management and integrating disaster resilience measures into development planning. The programme will also enhance the availability of financial resources following disasters and strengthen Pakistan’s disaster risk financing system. ADB Country Director for Pakistan Emma Fan said vulnerable and disadvantaged communities are often the hardest hit during natural disasters. She emphasized that investing in preparedness could help protect lives and livelihoods, reduce economic losses and safeguard development gains. Fan added that the programme would support Pakistan in implementing key reforms and building a safer and more resilient future. The initiative is aligned with Pakistan’s national priorities for disaster risk management and the ADB’s broader commitment to strengthening climate and disaster resilience across Asia and the Pacific.