International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, Oct 12, 2018. (JOHANNES P. CHRISTO / REUTERS)

The World Bank has approved financing of $1.69 billion for flood relief projects in Pakistan, it said in a statement on Monday.

Pakistan's already stressed economy took a further hit after severe floods earlier this year submerged large swathes of the country, killing nearly 1,700 people, damaging farmlands and infrastructure.

READ MORE: Climate change official: Pakistan floods affected over 30m people

The World Bank financing is aimed at relief projects in the south-eastern Sindh province, which it said was worst-affected by the floods.