The Asian Development Bank will provide US$81.7 million, including a
US$6.7 million grant from the Government of Australia, in additional financing
to help Cambodia recover from catastrophic floods in late 2013, which affected
1.7 million people and caused an estimated US$356 million in damage today.
Loan and grant agreements were signed today by the Minister of Economy
and Finance, ADB Country Director for Cambodia, Mr. Eric Sidgwick, and
Australian Ambassador, H.E. Ms. Alison Burrows. ADB’s US$75 million in
additional financing follows a US$3 million grant from the Asia Pacific
Disaster Response Fund disbursed in November 2013 to support immediate road and
canal embankment repairs, and provision of rice seeds to impoverished farmers.
The reconstruction work will be conducted in two stages, and will be completed
in 2017.
In 2012, ADB provided US$55 million in loans to repair roads, bridges,
and irrigation systems damaged in Cambodia’s devastating 2011 floods, and to
improve disaster risk management. The Australian Government provided US$5
million in grants.
Source:
http://www.akp.gov.kh/?p=44419
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