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ADB President Arrives in Indonesia Today, Will Visit Tsunami Devastated Areas

MANILA, PHILIPPINES (8 March 2005) - The Asian Development Bank (ADB) President Haruhiko Kuroda arrives in Indonesia today for a four-day visit that includes seeing tsunami-affected areas.

This is his first official visit to a developing member country of ADB since taking office on 1 February.

Tomorrow, Mr. Kuroda will tour Aceh province, which was devastated by the 26 December 2004, earthquake and tsunami. During his visit, he will also meet senior government officials to discuss ADB assistance.

In February, ADB set up a multidonor Asian Tsunami Fund - and made an initial contribution of US$600 million - to deliver emergency funding to tsunami-affected countries, including India, Indonesia, Maldives, Sri Lanka, and Thailand.

The fund takes ADB's total financial commitment on tsunami assistance to $775 million, which includes $175 million that can be redirected from ongoing projects and programs.

Mr. Kuroda's visit comes ahead of a high-level tsunami conference to be held at ADB Headquarters in Manila on 18 March to strengthen coordination assistance. The meeting aims to sustain the momentum of the development community effort as the response to the tsunami shifts from the relief phase to rehabilitation and reconstruction.

In Indonesia, the provinces of Aceh and North Sumatra bore the brunt of the earthquake and tsunami. The Government estimated a death toll of at least 94,000, with 132,000 missing. The number of displaced persons is expected to be about 500,000.

Total damage from the tsunami is estimated at $4.5 billion - almost equal to the gross domestic product of Aceh - according to a preliminary damage assessment prepared by the Indonesian Government, World Bank, ADB, and other development partners.

The Asian Development Bank is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members, with 45 from the region.

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