ADB Approves Initial Grant for Sulawesi Earthquake and Tsunami Affected Areas
MANILA, PHILIPPINES (9 October 2018) — The Asian Development Bank (ADB) yesterday approved $3 million in grant assistance to support immediate relief efforts in Central Sulawesi, Indonesia.
ADB President Mr. Takehiko Nakao will visit Bali, Indonesia this week to attend the Annual Meetings of the World Bank and International Monetary Fund. He is expected to meet with Indonesian leaders including Minister of Finance and ADB Governor Ms. Sri Mulyani Indrawati and Minister of National Development Planning Mr. Bambang Brodjonegoro to convey his sympathy and support for affected families and discuss ADB assistance in the wake of natural disasters that struck the provinces of Central Sulawesi in late September and Lombok in August.
“I am pleased to announce that ADB has approved a $3 million grant assistance to support immediate relief efforts in Central Sulawesi. ADB has also offered long-term emergency assistance loans to help with reconstruction in devastated communities,” Mr. Nakao said. The $3 million immediate relief assistance will come from the Asia Pacific Disaster Response Fund, ADB’s emergency assistance facility.
ADB stands ready to provide emergency assistance loans that can offer quick-disbursing budget support as well as help post-disaster rehabilitation and reconstruction. ADB’s emergency assistance loans carry longer maturity and grace periods than its normal loans.
ADB is also exploring other ways of mobilizing additional resources for emergency assistance, including reprogramming and increased financing under ongoing loan projects to rehabilitate and restore critical services such as electricity, water supply, and sanitation.
Through its emergency assistance, ADB is committed to helping the government build greater resilience to natural disasters. It is working closely with the government, international agencies, and other development partners to assess needs and plan a response that will help rebuild the lives of affected people. Coordination will be critical to ensuring an effective response.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.