Pakistan and the United Nations are holding a major conference in Geneva on Monday aimed at marshaling support to rebuild the country after devastating floods in what is expected to be a major test case for who pays for climate disasters.
Record monsoon rains and melting glaciers last September displaced some 8 million people and killed at least 1,700 in a catastrophe blamed on climate change. Most of the waters have now receded but the reconstruction work, estimated at around $16.3 billion, to rebuild millions of homes and thousands of kilometers of roads and railway is just beginning and millions more people may slide into poverty.
However, it is far from clear where the reconstruction money will come from, especially given difficulties raising funds for the emergency humanitarian phase of the response which is around half funded, according to UN data. At the COP27 meeting in Egypt in November, Pakistan was at the forefront of efforts that led to the establishment of a “loss and damage” fund to cover climate-related destruction for countries that have contributed less to global warming than wealthy ones.
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