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ADB's Post-Tsunami work to continue support for Maldives atoll development |
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Tuesday, 20 September 2005 |
The Asian Development Bank (ADB) will continue to support the Government of the Maldives in its development priorities, primarily regional or atoll development, according to ADB's Country Strategy and Program (CSP) update for 2006-2008 endorsed by its Board of Directors, writes Asian Development Bank (ADB), Manila, Philippines, 21 Sep 2005 in Relief Web at http://www.reliefweb.int/
Forwarded by Budhi Mulyawan 220905.
The tsunami disaster has not changed the fundamental priorities of promoting economic development in key islands supported by investment in physical and social infrastructure, the update says.
A lending level of about US$6 million per year is tentatively programmed for the three-year period for the Maldives. The final lending amount, from ADB's concessional Asian Development Fund, is subject to the outcome of an annual performance-based allocation.
"ADB will assist the Maldives in addressing its priorities of providing the basic infrastructure to promote economic diversification and jobs, especially in the atolls," says Richard Vokes, ADB's Director of ADB's Operations Coordination Division for South Asia.
"At the same time, ADB will continue to assist the Government and people of the Maldives in their efforts to recover from the tsunami."
The tsunami that struck on the morning of 26 December was a national disaster, killing 83, destroying 14 out of the 198 inhabited islands and severely damaging another 39, and displacing about 15,000 people.
Much of the social and economic infrastructure of the islands' communities, including electricity, transport access, agriculture, and fishing vessels, was destroyed. Total damage was estimated at $470 million, or close to 62% of gross domestic product.
The disaster has prompted the Government to elevate the priority of its focus islands program - a scheme to promote voluntary migration to larger islands to consolidate the population - and the provision of greater disaster mitigation.
ADB played a key role in the joint needs assessment to the tsunami-affected areas and has approved a Tsunami Emergency Assistance Project to address the sectors most affected by the disaster.
New projects in the pipeline for the next three years include a domestic maritime transport project, a project to develop small and medium enterprises in the atolls, the second phase of an electrification project, an agriculture project to develop new income generating opportunities in the atolls, and a project to develop social infrastructure for regional development to focus on community development and improvements to water supply, sanitation, solid waste management, and land management. The loan program will be supported by grant assistance totaling $3 million over the three years, focusing on project preparation, human resource development (especially for the atolls), and promotion of good governance.
As of the end of last year, Maldives had received $83 million in public sector loans from ADB and TA grants totaling $17 million.
CSPs define ADB's medium-term development strategy as agreed with the country. A CSP update is prepared every year taking into account the continued relevance of the CSP, its implementation, and ADB's operational program. ADB plans its next CSP for Maldives in 2007, to align with the Government's Seventh National Development Plan for 2006-2010 under preparation.
The Asian Development Bank is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members, with 45 from the region. In 2004, it approved loans and technical assistance totaling $5.3 billion and $196.6 million, respectively.
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