World Bank Doubles Financial Commitment to Samoa
APIA, November 2, 2009— Juan Jose Daboub, Managing
Director of the World Bank, today announced that the World
Bank will double its financial contribution to Samoa, from
USD 20 million to USD 40 million, in order to help the
country respond to the recent devastating tsunami.
The announcement was made by Mr. Daboub during a
visit to Samoa for the opening of the joint World Bank Group
and Asian Development Bank liaison office in Apia. The
Managing Director is the most senior World Bank official to
have visited Samoa.
“Today, while visiting villages
on the South Coast of Upolu, I witnessed first-hand the
devastating impact caused by the tsunami,” said Juan Jose
Daboub. “I would like to express my profound sympathies to
the Samoan government and people. At the same time, I have
seen through the eyes of those affected their strength,
resilience, and desire to work hard to recover and continue
on the path to prosperity. I am pleased to reaffirm the
World Bank’s commitment to support you.”
President of the Asian Development Bank Haruhiko
Kuroda has previously expressed his deepest sympathy to
Samoa for the tragic loss of lives and committed immediate
assistance for the country’s rehabilitation efforts
following the tsunami. As well as a $1 million grant for
emergency relief efforts that has been disbursed, ADB plans
to provide Samoa with USD 26 million in new loans, to assist
Samoa during these difficult times, having been seriously
impacted by the tsunami and the economic crisis.
The
opening of the joint ADB and World Bank office represents
the strengthening of the partnership by both Banks with the
Samoan Government and with each other.
“The new
office in Apia demonstrates the World Bank’s long-term
commitment to its activities and programmes in Samoa,”
said Juan Jose Daboub. “This presence on the ground will
enable us to be more responsive to the Samoa’s development
needs and better engage with the government, local
communities and other stake-holders. The joint engagement
between the World Bank and the ADB reflects our commitment
to respond to the call by Pacific Leaders in Cairns for
improved development coordination We look forward to
continued support from shareholders to ensure that the World
Bank is able to scale up support for developing countries
even further.”
"The establishment of the joint
ADB/World Bank offices in Tonga and now Samoa is a practical
expression of our determination to deliver on commitments
made under the Paris Declaration" said Keith Leonard,
Regional Director of ADB's South Pacific Subregional Office,
who represented the ADB. The Paris Declaration on Aid
Effectiveness was adopted on 2 March 2005 at the OECD’s
Development Assistance Committee (DAC) meeting and commits
adhering donors and developing countries to improving the
distribution and management of aid aimed at increasing its
effectiveness.
Dr. Juan José Daboub is the
Managing Director responsible for the World Bank’s
operations in 74 countries (in Latin America and the
Caribbean, East Asia and the Pacific, and the Middle East
and North Africa). Prior to joining the Bank Group, Juan
served concurrently as El Salvador’s Minister of Finance
and Chief of Staff to the President. In this capacity, he
helped to navigate his native country through several
regional economic challenges – securing and sustaining El
Salvador’s investment grade rating, dollarizing the
economy, and completing a Free Trade Agreement with the
United States. During this period, he also oversaw the
reconstruction of El Salvador after the two earthquakes in
2001.
Samoa has been a member of the World Bank since
1974. The World Bank has committed approximately $88 million
in highly concessional credits to the Government. World Bank
supported programs have helped to underpin improved roads
throughout Samoa, as well as the countries successful
efforts to meet the millennium development targets to
improve maternal and child mortaility. In addition,
investments of $20 million by IFC, the private sector arm of
the World Bank Group, have encouraged private investment of
over $80 million in Samoa, helping increase the number of
people with access to telephone services from about 12,000
to 115,000 in less than a decade.
ADB has maintained
a long and active presence in Samoa, providing a range of
development assistance in the form of loans, grants and
technical assistance. The island-nation joined ADB at the
Bank's founding in 1966. Since that time, ADB has committed
approximately USD 160 million to the country.
ENDS