Remarks by Haruhiko Kuroda, President, Asian Development Bank (ADB) at the Signing Ceremony of the $60 million Loan and Grant Agreements of the Flood Damage Emergency Reconstruction Project

Your Excellencies, distinguished guests, ladies and gentlemen:

I am honored today to join Deputy Prime Minister and Minister of Economy and Finance Keat Chhon in signing the Loan and Grant Agreements of the Cambodia Flood Damage Emergency Reconstruction Project. This important project reflects ADB's continued strong partnership with the Royal Government of Cambodia to eradicate poverty and accelerate sustainable economic growth. It also marks ADB’s growing cooperation with the Government of Australia in Cambodia.

The 2011 floods caused serious damage across 18 of Cambodia’s 24 provinces and municipalities. The Project is one element of ADB’s comprehensive response to the calamity. It follows a $3 million grant from the Asia Pacific Disaster Response Fund —to support immediate road and canal embankment repairs, and provision of rice seeds to impoverished farmers — and reallocation of resources from ongoing projects.

The Project will help restore rural, national and provincial roads, and irrigation and flood control facilities. It will also assist in strengthening capacity for flood and project management.

The Project has flexible recruitment and procurement procedures following the disaster and emergency assistance procedures. Thus, I am pleased that design consultants are already in place in each of the implementing agencies, and urgent civil works will be substantially completed before the next rains begin in June or July.

The project team informs me that, over an intense three month preparation process, the level of collaboration with all government partners has been very strong, supporting significant synergies between the various components of the project. I sincerely hope that this collaboration will continue throughout the project period and extend to other related activities as well.

I would like to conclude by extending best wishes to Deputy Prime Minister Keat Chhon, representatives from the Government of Australia, colleagues from the Royal Government of Cambodia, and the people of Cambodia. Please also accept my best wishes for the upcoming Khmer New Year celebrations.

Thank you.