Manila, Dec 6 (IANS): The Asian Development Bank (ADB) said on Wednesday that it has approved a $250 million loan to improve Indonesia's flood management capacity.
The Manila-based bank said the financial project will help reduce flood risk in the northern coastal area of Java island and strengthen the local community's socio-economic resilience, Xinhua news agency reported.
With an increasing population and assets in low-lying areas, Indonesia, particularly the northern coastal area of Java island which is a strategic economic corridor, is highly vulnerable to flooding and climate change, ADB added.
The project aims to operationalise flood risk management in the Cimanuk-Cisanggarung river basin territory in West Java and Central Java. It will help reduce the risk of flooding to 485,000 people, of which 200,000 are poor and vulnerable, as well as damages to crops and assets.
The project will also help reduce the exposure of economic centres to flood risks and traffic disruptions on the main road connecting Jakarta to East Java, ultimately benefiting the local and national economies, the multilateral lender said.