World Bank: Floods likely to have destroyed crops worth $1 billion

SIGULDA, Latvia, (Dawn): World Bank President Robert Zoellick said on Friday that the worst floods in Pakistan in decades were likely to have destroyed crops in the country worth around $1 billion.

The floods, triggered by torrential monsoon downpours, have swamped Pakistan's Indus river basin, killing more than 1,600 people, forcing two million from their homes and disrupting the lives of about 14 million people.

“An early assessment is that the damages are more than in the earthquake in 2005,” he told a news conference while visiting Latvia. “The rough estimate is that there is a billion dollars of losses of crops. All of us will have to pitch in to help.”