Flooding in Pakistan: Emergency Response Fund
To bring much-needed assistance to FINCA clients overwhelmed by the recent flooding in Pakistan, FINCA International has launched an Emergency Response Fund. With a goal of raising $1.5 million, the fund will provide aid to 15,000 of FINCA Pakistan’s affected clients and staff.
Scope of the Flooding in Pakistan
Since mid-June, torrential monsoon rains have left one-third of Pakistan underwater. The flooding and landslides have tragically claimed the lives of 1,500 people and harmed the lives and livelihoods of over 33 million women, men and children.
The inundation washed away countless homes and caused tens of billions of dollars of damage. Waterborne diseases now pose a serious health threat. Hydrologists say it may take six months for deadly flood waters to recede in the country’s hardest-hit areas.
Impact of Floods on FINCA Clients
The catastrophic flooding in Pakistan has touched everyone. FINCA Pakistan (officially known as FINCA Microfinance Bank Limited) reports that the floods have directly impacted at least 15,000 clients and staff. The number of affected clients is expected to increase. FINCA Pakistan continues to assess the extent of the damage, as large areas of the country are still inaccessible.
FINCA Pakistan’s rural clients have been most severely impacted. Over 13,000 clients have lost crops, land and livestock in the floods. These losses are consequential in local communities. On average, FINCA clients hire 2.7 employees, and their micro-enterprises play an essential role in local food supply chains.
FINCA’s Emergency Response Fund
The United Nations and the Government of Pakistan stress that distributing cash is the fastest and most efficient method of helping people. Through its digital mobile wallet app, FINCA Pakistan is in an excellent position to meet this need. Most FINCA Pakistan staff and clients can safely and securely receive money through their mobile phones. Such access that is not common in Pakistan.
To support the relief effort, FINCA International has launched the FINCA Emergency Response Fund. Donations will enable families to meet their immediate needs of food, clean water and shelter. It will help them clean up and repair flooded homes and businesses. The fund also will aid agricultural clients in restarting their businesses, which are essential sources of food security in the local community.