U.S. Announces Accelerated Disbursement of Kerry-Lugar-Berman Funds at Pakistan Development Forum
On November 14-15, the Government of Pakistan hosted over 30 countries and international organizations at the Pakistan Development Forum (PDF), including a delegation from the United States. As a demonstration of the United States’ sustained commitment to Pakistan’s recovery and reconstruction from recent devastating floods, Ambassador Holbrooke announced that the U.S. will accelerate disbursement of up to $500 million of the Kerry-Lugar-Berman funds to benefit flood victims as they continue to rebuild. These funds are in addition to the over $500 million already provided by the United States for flood relief. Working in close consultation with Congress, the United States will work with Pakistan’s leadership to ensure that U.S. assistance is aligned to Pakistani priorities.
The PDF was chaired by Pakistan Finance Minister Dr. Abdul Hafeez Shaikh. Senior Officials from all concerned Pakistani ministries participated along with representatives of business, academia and civil society. Prime Minister Yousuf Raza Gilani also addressed the Plenary Session of the Forum. The Pakistan Development Forum provided an opportunity for Pakistan to present its economic reform and stabilization plans, including progress on tax reforms, energy reforms, and fiscal consolidation, and to review Pakistan and the international community’s response to Pakistan’s devastating floods.
Ambassador Holbrooke stated during his remarks at the Forum: “On behalf of President Obama and the American people, I am honored to be here today, and to present our proposed contribution to your success. It is imperative that we all work together to ensure that the Pakistan of tomorrow is economically self-sufficient and able to move away from the cycle of donor dependency. Pakistan’s economic team has developed plans that can put Pakistan on the right path.”