World Bank approves $1.69 billion for Pakistan flood relief projects

FILE PHOTO: International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo

(Reuters) - The World Bank has approved financing of $1.69 billion for flood relief projects in Pakistan, it said in a statement on Monday.

Pakistan's already stressed economy took a further hit after severe floods earlier this year submerged large swathes of the country, killing nearly 1,700 people, damaging farmlands and infrastructure.