ADB approves $41 million for Pacific disaster recovery

On June 28, the Asian Development Bank (ADB) approved 41 million USD in funding for the Cook Islands, Marshall Islands, Federated States of Micronesia, Tuvalu and Vanuatu to respond to natural disasters and epidemics.

The assistance is part of the fifth phase of the Pacific Disaster Recovery Program. The funding comes from a $20 million concessional loan from ADB’s ordinary capital resources and a $21 million grant from the Asian Development Fund (ADF).

According to ADB, after each phase of the program, all five countries have made significant progress in strengthening their capacity to manage and reduce natural risks, prepare for and respond to natural disasters, and respond to health emergencies.

HUY QUOC

Source: https://www.sggp.org.vn/adb-phe-duyet-41-trieu-usd-phuc-hoi-tham-hoa-thai-binh-duong-post746892.html