ADB to coordinate Timor aid

ADB to coordinate Timor aid

MANILA (AFP): The Asian Development Bank (ADB) has agreed to coordinate foreign assistance for non-member East Timor, the Philippines-based lender said Monday.

ADB vice president Peter Sullivan met here with the former Portuguese territory's independence leaders Xanana Gusmao and Jose Ramos-Horta last Saturday and told them the bank would be happy to undertake the proposed role, an ADB statement said.

Sullivan said the bank has agreed to provide technical assistance for East Timor, particularly for capacity-building.

It said the three men also discussed the ADB's role as co- manager with the World Bank of the multi-donor trust fund being set up to assist East Timor over the next two to three years on its road to eventual nationhood.

The bank will take responsibility for areas such as community support, capacity-building, and infrastructure development, it added.