ADB provides 81.7 mln USD to Cambodia for post-flood rehabilitation

Source:Xinhua Published: 2014-4-23 15:47:04

The Asian Development Bank ( ADB) signed Wednesday to provide 81.7 million US dollars, including a grant of 6.7 million US dollars from Australia, to help Cambodia recover from catastrophic floods in late 2013, which affected 1.7 million people and cost 356 million US dollars in damage.

Loan and grant agreements were signed here by Cambodia's Finance Minister Aun Pornmoniroth, ADB country director for Cambodia Eric Sidgwick and Australian Ambassador to Cambodia Alison Burrows.

"Reconstruction of critical infrastructure will help restore livelihoods by re-establishing access to markets and social services and increasing agricultural production," Sidgwick said after the signing ceremony.

Including the above-mentioned loan, ADB's total financing for recovery to Cambodia has amounted to 130 million US dollars, the bank said in a press release, adding that the money will be used to rebuild 376 km of roads and three bridges as well as nine irrigation plants in six severely flood-affected provinces.

Aun Pornmoniroth said the reconstruction work will be conducted this year and will be completed in March 2017.

Posted in: Economy

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