New ADB program to help Kyrgyzstan and Tajikistan respond to disasters
AKIPRESS.COM – The Asian Development Bank (ADB) has approved a $56.4 million program to help the Kyrgyz Republic and Tajikistan boost their capacity to respond to disasters.
The program combines the Contingent Disaster Financing (CDF), a budgetary support financing in the event of medium-severity natural hazards and health emergencies; with the Disaster Relief Bond (DRB), a catastrophe bond issued into the international capital market to provide quick liquidity to the countries should high-severity disasters occur.
The program prioritizes implementation of policy reforms, institutional capacity strengthening, and governance structure enhancement to support a more coordinated, transparent, and effective approach to disaster risk management and financing.
The program will be funded with a $53.1 million grant through the Asian Development Fund (ADF), complemented by $3.3 million in cofinancing from the Asia-Pacific Climate Finance Fund. The ADF provides grants to the poorest and most vulnerable countries in Asia and the Pacific. During 2021–2024, the fund helped 384,000 people emerge from poverty and generated around 500,000 jobs.
