Pakistan, EIB sign €100m financing deal for Sindh flood housing project

ISLAMABAD: Pakistan and the European Investment Bank (EIB) on Wednesday signed a €100 million financing agreement for the Sindh Flood Emergency Housing Reconstruction project, according to a press release issued by the Ministry of Economic Affairs.

The agreement is aimed at supporting the reconstruction of communities affected by the devastating floods of 2022 and is being presented as a step toward improving climate resilience and advancing sustainable recovery efforts.

The ministry said the accord was signed by Federal Secretary for the Ministry of Economic Affairs Humair Karim Kidwai and a senior EIB official.

Support for post-flood reconstruction

According to the press release, the financing will go toward the Sindh Flood Emergency Housing Reconstruction project, which is focused on rebuilding homes and helping restore affected communities in the province after the 2022 floods.

The ministry described the agreement as a significant development in Pakistan’s efforts to respond to the long-term impact of the disaster through recovery measures linked to climate resilience.

The 2022 floods caused widespread destruction across several parts of the country, with Sindh among the worst-affected regions. The newly signed financing arrangement is intended to contribute to housing reconstruction under the emergency recovery framework outlined for flood-hit communities.

Agreement signed on Wednesday

The Ministry of Economic Affairs said the signing took place on Wednesday and identified Humair Karim Kidwai as the Pakistani signatory to the agreement. The EIB was represented by a senior official, the press release added.

No further operational details were provided in the ministry’s statement carried in the report, but the announcement underscored the role of international financing in supporting Pakistan’s recovery and resilience-building initiatives following climate-related disasters.

The agreement comes in the context of continued efforts to rebuild areas damaged by the catastrophic floods and to strengthen the country’s capacity for sustainable recovery.

The ministry’s statement framed the financing arrangement as part of a broader push to support vulnerable populations in flood-hit areas through reconstruction and resilience-focused development.

With the signing of the €100 million agreement, Pakistan and the EIB have formalised cooperation on a project centered on emergency housing reconstruction in Sindh, one of the provinces most severely impacted by the 2022 disaster.