The donor conference in Tokyo for Pakistan has concluded with commitments of over $5bn over the next two years. This is more than the expectation of the Japanese government which hosted the event along with the World Bank (WB). The massive amount is for ‘additional support’ to the social safety nets, human development, and anti-poverty costs – all contributory to the much-hoped for but elusive stability of the country.

According to estimates by international NGOs, 74% of Pakistan’s population, or 122 million people, struggle on $2 a day. 30 million people in the country live under $1 a day. Half the population is illiterate. Only 51% of girls attend school. Nine out of 100 children die before they reach their first birthday. 40% of the population has no access to safe drinking water, and 50% has no access to sanitation.

The largest donors are the United States and Japan with $1bn each to be disbursed over the next two years. The European Union (EU) pledged $640 million until 2013 for education, rural development, and renewable energy. Saudi Arabia offered $700 million for the next two years. The donor conference wanted to send ‘a strong international support for the government of Pakistan’ and its ‘development strategy’ while expressing concern about the security situation in Pakistan and the impact on development, investment climate, and growth.

Japan and the World Bank pushed the donor conference in order to achieve funding for Pakistan in return for the country’s commitment to transparency in its government, continued economic reforms, and fight against Islamic extremism and radicalism. At the start of the conference, Pakistan President Asif Ali Zardari called for support to donors and pledged to ‘tackle the tremendous challenge posed by extremism in the border with Afghanistan.’

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Via BBC