In an effort to raise money to help the 33 million people affected by the floods and restore billion-dollar losses, Pakistan on Monday received donations totaling $10.7 billion, well above its $8 billion goal.

After Prime Minister Shehbaz Sharif announced a $8 billion flood aid appeal to help the country recover from the destruction brought on by the cataclysmic floods, the cash-strapped country secured the commitments at the one-day International Conference on Climate Resilient Pakistan in Geneva.

The nation, which has a $350 billion GDP, managed to acquire commitments totaling $8.57 billion by the end of the first plenary session, and more than $2 billion in the second.

At least 1,700 people were murdered and more than $16 billion in damages were caused by the devastating floods that devastated Pakistan, which Islamabad is now funding with its own resources.

In response to the country's $8 billion flood plea, the World Bank and the Islamic Development Bank (IsDB) donated more than $6 billion to Pakistan to support its efforts to repair its climate.

In addition to the World Bank's $2 billion and $4.2 billion commitments to Pakistan over the next three years, the Asian Infrastructure Investment Bank, Saudi Arabia, China, the United States, and other countries have also signalled their support.

According to PM Shehbaz, Pakistan urgently needs $8 billion from international donors over the next three years to rebuild its economy, which was largely destroyed by severe floods from June to October 2022.

"We are racing against time," he said, highlighting the necessity for relief efforts to continue as the education of millions of children continues to be impacted and some sections of Sindh require water drainage.

As Islamabad seeks assistance in what is anticipated to be a significant test case for who pays for climate disasters, representatives from over 40 countries have assembled in Geneva. These representatives are joined by private donors and international financial organisations.