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| Sunday, 16 January 2005 |
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ADB pledges US $ 200m by Jayantha Sri Nissanka Asian Development Bank (ADB) President Tadao Chino after visiting tsunami devastated areas in Sri Lanka yesterday pledged US $ 200 million to assist the reconstruction effort of the Government. Of this assistance, between US $ 100 m to US 150 m will be an emergency concessional assistance. A portion of this amount about 15 percent will be a grant. "We are seriously examining how these emergency grants may be expanded", he said. ADB plans to reprogram another US $ 50 m from existing projects without any adverse effect on them. However, ADB has budgeted US $ 675 million for tsunami affected countries such as Sri Lanka, Indonesia and the Maldives. President Chino emphasised that this figure could be increased on requirement. Of this amount, US $ 500 m will be grants and highly concessional funds for affected countries. US$ 175 m will be redirected funds from ongoing projects. Chino obtained a first hand account of the tsunami devastation after visiting Trincomalee, Muttur and Matara. He noted, "We need to use this sad occasion to lay the roots for a better future for vulnerable communities". ADB officials were making an assessment sending teams to all the affected areas with the cooperation of the World Bank and Japan Bank for International cooperation. ADB expects to get involved in developing transport, housing, education, livelihood, and community development in coastal areas. Chino also visited some camps in Muttur during his visit to Trincomalee to witness the devastation. Meanwhile, ADB Country Director Alessandro Pio together with IMF and World Bank officials have visited LTTE controlled areas on Thursday and met LTTE Political Wing Leader S. P. Thamilchelvan at the LTTE Planning and Development Secretariat. The donor agencies plan to assist the reconstruction of the affected areas in the North and East after consultation with the Government and the LTTE. President Chino met Prime Minister Mahinda Rajapakse, Finance Minister Dr. Sarath Amunugama and top officials. He was accompanied by Port, Aviation and Media Minister Mangala Samaraweera during his trip to Matara. |
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