The emergency assistance loan (EAL) provides $50 million to assist the government finance additional disaster-related recovery expenditures in the FY2017 budget. The government requested ADB financing primarily to assist with reconstructing and building back better 495 schools that were damaged by Tropical Cyclone Winston. Of this total, 219 schools have been extensively damaged and government anticipates being able to rehabilitate approximately 60% of these during FY2017. All new buildings will be required to adhere to stringent standards to maximize their ability to withstand natural disasters. In addition government proposes to use a significant portion of the loan to finance expenditures for the Help for Homes program. This follows a request by the government to both ADB and the World Bank on 11 April 2016 for fast-disbursing emergency finance. In preparing this operation, ADB has worked closely with the World Bank, which will seek Board approval for $50 million of financing for its policy-based operation on 30 June 2016.
World Bank US$ 50 million
Ministry of Economy
Level 5x Ro Lalabalavu House
370 Victoria Parade
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main