ADB, other donors to give Bangladesh $190 mn as cyclone relief
ADB and other aid agencies will give Bangladesh $190 mn in loans to assist in recovery from cyclone last year.
By Agencies |
MANILA: The Asian Development Bank and other aid agencies will give Bangladesh $190 million (euro128 million) in loans and grants to assist in recovery from a devastating cyclone last year, the Manila-based bank said on Friday.
A loan of $120 million (euro81 million) will be provided by the ADB, along with $60 million (euro40.4 million) from the Japan Bank for International Cooperation.
The Canadian International Development Agency also is arranging a $10 million (euro6.72 million) grant while ADB will provide a separate $200,000 (euro134,500) technical assistance grant.
Tropical Cyclone Sidr struck Bangladesh's southwest coast November. 15, killing more than 3,300 people and leaving tens of thousands homeless. The floods and cyclone affected 25 million people and caused losses of up to $3 billion (euro2 billion), the ADB said.
Bangladesh has sought $2 billion (euro1.3 billion) in foreign aid to rebuild homes, schools and embankments. It earlier received commitments of about $500 million (euro336 million).
About 40 per cent of the funds from the ADB and its development partners will be used to finance imports of essential commodities, particularly for agriculture, to ensure quick recovery.
The rest of the money will go to rehabilitating rural and urban infrastructure such as roads and bridges, as well as flood control, drainage and irrigation facilities, the bank said.
A loan of $120 million (euro81 million) will be provided by the ADB, along with $60 million (euro40.4 million) from the Japan Bank for International Cooperation.
The Canadian International Development Agency also is arranging a $10 million (euro6.72 million) grant while ADB will provide a separate $200,000 (euro134,500) technical assistance grant.
Tropical Cyclone Sidr struck Bangladesh's southwest coast November. 15, killing more than 3,300 people and leaving tens of thousands homeless. The floods and cyclone affected 25 million people and caused losses of up to $3 billion (euro2 billion), the ADB said.
Bangladesh has sought $2 billion (euro1.3 billion) in foreign aid to rebuild homes, schools and embankments. It earlier received commitments of about $500 million (euro336 million).
About 40 per cent of the funds from the ADB and its development partners will be used to finance imports of essential commodities, particularly for agriculture, to ensure quick recovery.
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The rest of the money will go to rehabilitating rural and urban infrastructure such as roads and bridges, as well as flood control, drainage and irrigation facilities, the bank said.
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