The ADB pledges US $500 mn to Indonesia, Maldives, and Sri Lanka

The Asian Development Bank (ADB) pledges US $500 mn to Indonesia, Maldives, and Sri Lanka at the Jakarta donor conference on Thursday. The ADB said it will provide up to US $500 mn to Indonesia, Maldives, and Sri Lanka in the form of grants and highly concessional funds to rebuild after Decembers tsunamis.

In addition, more resources would be made available through reallocations from ongoing programs, said the President of the ADB, Tadao Chino.

ADB is also prepared to lead and fund a US $1 min study to develop a tsunami early warning system for the Indian Ocea.

-LBO Newsdesk: LBOEmail@vanguardlanka.com

The Asian Development Bank (ADB) pledges US $500 mn to Indonesia, Maldives, and Sri Lanka at the Jakarta donor conference on Thursday.