The ATF was established to respond to the special circumstances surrounding the developing member countries (DMCs) that were stricken by the effects of the tsunami on December 2004. The fund will provide ADB with a dedicated source of grant financing to support priority rehabilitation and reconstruction needs on a multi-sector basis.
The objective of the fund is to pool and deliver emergency grant financing promptly and effectively to affected DMCs for technical assistance (TA) and investment projects to support reconstruction, rehabilitation and associated development activities following the tsunami disaster.
The fund will be available to finance immediate pre-reconstruction efforts and medium-term reconstruction and rehabilitation investments associated with the tsunami damage. The fund will be used exclusively for the prompt restoration of services to the affected population and will not attempt to address long-term economic rehabilitation investments or sector or institutional problems unrelated to the tsunami disaster.
Available sectors for financing are:
Eligible activities for financing include the cost of expert services and related facilities required for TA or related operational activities (including staff training and development for eligible DMCs) to be carried out by ADB.
Resources from the fund will be available to central governments and other suitable entities including, where appropriate, non-governmental organizations (NGOs), for activities in each of the tsunami-affected DMCs that have requested ADB assistance–India, Indonesia, Maldives, Sri Lanka and Thailand.
Australia and Luxembourg support the fund.