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World Bank Doubles Financial Commitment to Samoa in Response to Tsunami / Asian Development Bank Promises Increased Funds / World Bank and Asian Development Bank Open Joint Liaison Office

APIA (2 November 2009) – Juan Jose Daboub, Managing Director of the World Bank, today announced that the World Bank will double its financial contribution to Samoa, from USD 20 million to USD 40 million, in order to help the country respond to the recent devastating tsunami.

The announcement was made by Mr. Daboub during a visit to Samoa for the opening of the joint World Bank Group and Asian Development Bank liaison office in Apia. The Managing Director is the most senior World Bank official to have visited Samoa.

Read the full news release.

ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members - 48 from the region. In 2008, it approved $10.5 billion of loans, $811.4 million of grant projects, and technical assistance amounting to $274.5 million.

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