Pakistan gets IMF loan for floods
Published:Thursday | September 16, 2010 | 12:09 PM
The International Monetary Fund (IMF) says it’s making a $451 million emergency loan available to Pakistan immediately.
The IMF says the money would help Pakistan to cope in the aftermath of the floods that have affected about 18 million people.
The agency also says it hopes the decision would encourage more lending by international donors.
Meanwhile, new flooding has been reported from around the town of Dadu, near the Indus river in Sindh province.
The army is continuing relief efforts, rescuing hundreds of people trapped or isolated by floodwaters, in the area.
The United Nations has said that billions of dollars would be needed in the long term.
However, charities say the response to the UN's appeal has been sluggish.
