ADB to provide assistance to Nepal

This will be followed by up to $200 million additional resources for projects in the first phase of rehabilitation.

In  a statement, ADB President Takehiko Nakao said ADB will provide the money immediately from the Asia Pacific Disaster Response Fund to meet humanitarian needs (such as tents, medical assistance, food and drinking water) in earthquake-hit areas. 

“ADB stands together with the people of Nepal and the Government at this challenging time,”  Nakao said in a letter of condolence to Nepal’s Prime Minister Sushil Koirala. “I assure you of our fullest support in the aftermath of the earthquake, for relief, rehabilitation, and reconstruction.”

ADB has established a Nepal Earthquake Response Team, and will join with UN agencies and other development partners to assess the damage and the long-term investment needs for reconstruction and rehabilitation. Based on this assessment, and in addition to the up to $200 million of new resources, ADB will consider reallocating existing resources.

ADB has around $2 billion in ongoing projects in Nepal and provided $350 million in financial assistance in 2014. ADB will work closely with the government to find ways to utilise ongoing ADB projects, including repurposing existing ADB loans, to address the urgent needs of the earthquake-hit areas.

In the statement, Nakao also offered his deepest condolences to the people of Nepal and other affected countries for the tragic loss of lives and property caused by the earthquake.

“I am deeply saddened to hear of the tragic loss of lives and destruction caused by the earthquake,”  Nakao wrote in a letter delivered to Nepal’s Prime Minister, Sushil Koirala.

“On behalf of the Asian Development Bank, I offer my deepest sympathies and condolences to the people of Nepal and the affected families."