The FINANCIAL — The Government of Myanmar and the Asian Development Bank (ADB) on September 2 signed a $3 million grant agreement to finance relief efforts for communities affected by recent flooding and landslides.
The agreement was signed by U Maung Maung Win, Permanent Secretary of Myanmar’s Ministry of Finance, and Winfried Wicklein, ADB’s Myanmar Country Director, according to ADB.
“The ADB funds are very timely as the government and its partners are still addressing the immediate needs of the crisis, while preparing a smooth transition to the recovery phase. In addition, the risk of further monsoon rains and associated damage remains,” U Maung Maung Win said.
ADB approved the emergency grant in late August from its Asia Pacific Disaster Response Fund. The fund can be used to meet priority needs, restore live-saving services, and support early recovery for affected communities.
“ADB is pleased to assist in this time of immediate need,” Mr. Wicklein said. “We are also preparing to mobilize resources for the rehabilitation and reconstruction of damaged infrastructure.”
Mr. Wicklein said these efforts will support national and state/regional disaster responses, based on damage and needs assessments and in close coordination with development partners,
Heavy monsoon rains, exacerbated by Cyclone Komen in late July, caused severe flooding, landslides, and wind damage across most parts of the country. Over 1.6 million people were affected by the disaster, which has destroyed farmland, roads, railroads and bridges. The government has declared natural disaster zones in Chin and Rakhine states, and the regions of Magway and Sagaing.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2014, ADB assistance totaled $22.9 billion, including cofinancing of $9.2 billion.
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