ADB will expand the work of a highly successful project that helps conflict-affected communities in northeast Sri Lanka to include tsunami victims. It will also extend the project to help tsunami-affected communities in the south.
Sri Lanka will need approximately US$ 1.5 billion to effectively implement a recovery and reconstruction strategy according to a preliminary damage and needs assessment released today by ADB, the Japan Bank for International Cooperation (JBIC) and the World Bank.
Haruhiko Kuroda took the reins of ADB today as its eighth President and immediately called on the institution to re-invigorate itself to meet the challenges of operating in the world's most dynamic region.
Following consultation with the Government of Bangladesh and donor stakeholders, ADB has cancelled the balance of its loan and two associated technical assistance (TA) grants for a conservation project in the Sundarbans Reserve Forest, it was announced today.
ADB today announced its plan to establish a $600 million multidonor Asian Tsunami Trust Fund to provide rapid reconstruction and technical assistance to countries most affected by the December 2004 disaster.
ADB is offering initial new assistance of $20 million in grants to help the Maldives' post-tsunami reconstruction and rehabilitation effort, ADB Vice-President Liqun Jin said at meetings with Maldives President Maumoon Abdul Gayoom and Finance and Treasury Minister Mohamed Jaleel yesterday.
ADB will help develop a sustainable agroforestry land-use system in northern Lao People's Democratic Republic (Lao PDR) through a US$1.5 million grant approved from the Japan Fund for Poverty Reduction, financed by the Government of Japan.