European Commission Contributes EUR39.4 Million to Tsunami Project in Sri Lanka
MANILA, PHILIPPINES (24 November 2005) - The European Commission has made a EUR39.4 million grant contribution to support Sri Lanka's efforts to help rehabilitate tsunami-affected areas in Sri Lanka in partnership with ADB.
"We are grateful to the European Commission for this generous contribution. It is an important milestone in developing a broader and long-lasting cooperation with the European Commission," says Werner Liepach, Principal Director of ADB's Office of Cofinancing Operations.
The contribution will help rehabilitate 270 kilometers of national roads that form part of the route between the towns of Matara on the south coast and Batticaloa on the east coast, as part of ADB's Tsunami-Affected Areas Rebuilding Project (TAARP).
These roads, which connect coastal communities, are in a greatly debilitated state, including narrow and pot-holed pavements, inadequate drainage, weak and old bridges, and ineffective road embankments.
The contribution will also help build capacity at
TAARP, estimated to cost US$249.3 million, is helping to rapidly improve the living conditions of people in tsunami-affected areas by restoring basic social infrastructure, community and public services, and livelihoods.
ADB has provided a $150 million grant and a $7 million loan to support the project. The grant comes from ADB's Asian Tsunami Fund, set up in February with an initial ADB contribution of $600 million and cofinancing from Australia and Luxembourg, to deliver prompt emergency grant funding to tsunami-affected countries. The contribution from the European Commission is directly to the project and will be administered by ADB.
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