Promises of Geneva

In January, Pakistan held a conference in Geneva, United Nations, in which، Pakitan sought assistance from international financial institutions for its flood-affected areas to deal with the floods and their devastating effects..
The floods in Pakistan are the result of climate change, and Pakistan’s role is about one percent. 

Pakistan is paying the price for the development of developed countries in the world.

For a while, it seemed that the world’s financial institutions and developed countries helped Pakistan in this difficult time, but the figures that have come out tell a different story.
In total, 9.7 billion dollars was promised in this conference with Pakistan.

The Islamic Development Bank pledged to lend about $4.2 billion, which tripled its current $1.2 million annual oil financing.
IDB gave barely six hundred million for flood rehabilitation.
Further funding by international financial institutions is part of the ongoing projects for aid for food. 

Pakistan has to give an assurance of six billion dollars to the IMF and only after that,
The IMF program will begin.

Pakistan is now trying to somehow get 500 million of the pledges made in Geneva to meet the target of 6 billion.

Pakistan has not yet received the announced two billion dollars loan from China.
The reason for the delay is said to be office complexity, Sources.
It should be remembered that Pakistan has previously used a concessional loan of five hundred million dollars from China in only three days.
Pakistan’s current situation is like that of a drowning man who touches all sides
But eventually, it sinks in with his own weight.
The attitude of continuous borrowing and re-borrowing has made it so, that no country is even ready to give a guarantee
And so far, Pakistan hasn’t started working on how to repay The loan.


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