ADB supports tsunami recovery and private sector development activities in Solomon Islands

Report
from Government of Solomon Islands
Published on 03 Sep 2007
The Asian Development Bank's Country Operations Business Plan for Solomon Islands 2008-2010 reaffirms ADB's commitment to support recovery and rehabilitation in response to the 2007 earthquake and tsunami.

The Business Plan also confirms the continuation of ADB's support in the areas of transport infrastructure and services and private sector development.

"Our highly focused strategy and program in Solomon Islands seeks to maximize impact in two key areas: transportation infrastructure and services, and an enabling business environment through private sector development activities," said Naomi Chakwin, Regional Director of ADB's Pacific Liaison and Coordination Office. "To achieve economic growth and prosperity, Solomon Islands needs to create an environment that promotes private sector activity."

ADB supports the improvement of the country's business environment by helping public enterprises perform better, encouraging public private partnerships, and strengthening the legal framework for business to increase opportunities of access to finance.

Capacity development and the promotion of good governance also remain high priorities for ADB in Solomon Islands.

The 2 April 2007 tsunami disaster killed 52 people and devastated parts of Western and Choiseul provinces. Islands in these two provinces suffered widespread damage to infrastructure, housing, schools, and medical facilities.

In response to a request from the Solomon Islands Government, ADB has given substantial support to the island nation, providing assistance in the form of disaster risk management assistance and damaged infrastructure rehabilitation accommodated within existing projects and a new, entirely grant funded project, the Solomon Islands Emergency Assistance Project.

"As lead donor in infrastructure, and in the overall coordination of tsunami-related infrastructure repair, ADB will continue to focus its investments on transportation infrastructure," said ADB's Country Team Leader for Solomon Islands Winfried Wicklein. "Improved infrastructure and services will help build rural economies, foster private sector development, and facilitate the delivery of basic social services such as health and education to remote and rural areas."

ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region.

Established in 1966, it is owned by 67 members - 48 from the region.

In 2006, it approved loans and grants for projects totaling $8.5 billion, and technical assistance amounting to almost $242 million.

By George Herming at 3 Sep 2007 - 12:24 | Press Releases | login or register to post comments | 5 reads

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