The government and the Asian Development Bank (ADB) has 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 the Ministry of Finance, and Winfried Wicklein, ADB’s Myanmar country director.
“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.
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.
The Manila-based lender approved the emergency grant in late August from its Asia Pacific Disaster Response Fund, and the fund will be used to meet priority needs, restore live-saving services, and support early recovery for affected communities.
Wicklein said, “We are also preparing to mobilise resources for the rehabilitation and reconstruction of damaged infrastructure.”
He said these efforts will support national and 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.
News From : Myanmar Business Today