ADB approves US$600M Fund for Tsunami countries
- Publisher
- Elsevier Science
- Year
- 2005
- Tongue
- English
- Weight
- 34 KB
- Volume
- 2005
- Category
- Article
- ISSN
- 1359-6128
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✦ Synopsis
The Asian Development Bank (ADB) has made an initial contribution of US$600 million to a multidonor Asian Tsunami Fund to deliver prompt emergency funding to tsunami-affected countries.
The Fund will pool and deliver grants for emergency technical assistance and investment projects to support reconstruction and rehabilitation in India, Indonesia, Maldives, Sri Lanka, and now Thailand.
ADB will accept contributions to the Fund from bilateral, multilateral, and individual sources, including companies and foundations.
The money will be used exclusively for prompt restoration of services to affected people. Possible sectors could include public services such as water supply and sanitation, electricity, and communications; infrastructure such as roads, railways, and ports; health and education services; agriculture and fisheries; housing; restoring livelihoods; and containment of environmental damage.