$55 m ADB aid negotiations to help flood affected Cambodia
Cambodia plans to spend nearly US$200 million to rebuild after the worst floods in a decade hit the country in September and October.
The floods require an immediate response, Minister of Economy and Finance Keat Chhon said yesterday at a meeting of the Council for the Development of Cambodia.
“The next urgent priority for the government is rehabilitation of infrastructure.”
The government had allocated US$54 million from the 2011 budget to rehabilitation, with $90 million in spending is planned for 2012, Keat Chhon said. Negotiations are underway with the Asian Development Bank to secure $55 million for post-flood rehabilitation, which Keat Chhon said would be implemented toward the end of 2012.
“This is a provisional allocation we have made in our program in consultation with the Ministry of Economy and Finance,” said ADB country director for Cambodia Putu Kamayana. “It will depend on the result of the government’s joint flood damage and rehabilitation needs assessment, which ADB will support together with other development partners,” he added.