The FINANCIAL — The Asian Development Bank (ADB) will offer $3 million assistance to Myanmar to support relief efforts following recent flooding which has caused widespread devastation across the country.
ADB will provide the grant from the Asia Pacific Disaster Response Fund to meet priority needs and restore live-saving services to affected communities.
ADB will also consider mobilizing new resources and adjusting existing programs for the rehabilitation and reconstruction of damaged infrastructure and affected livelihoods. ADB’s efforts are geared to support the Government of Myanmar at both national and state/regional levels, based on damage and needs assessments and in close coordination with the development community, according to ADB.
“ADB is committed to assist Myanmar in these difficult times,” ADB President Takehiko Nakao said. “It is important to link the relief and early recovery phase with the longer term rehabilitation plans, and ADB will support Myanmar in this effort.”
In a letter to Myanmar’s President, U Thein Sein, earlier this month, Mr. Nakao extended his condolences to the country’s government and people for the loss of lives and livelihoods, and the destruction caused by the floods.
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 are estimated to have been affected by the disaster, which has destroyed farmland, roads, railroads and bridges. The government has declared natural disaster zones in Chin and Rakhine states, as well as 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.