The Asian Development Bank has allocated funding of $56.4 million, which will be directed towards improving the disaster response capacity of Kyrgyzstan and Tajikistan. These funds will help strengthen financial resilience and ensure timely payments in the event of disasters.
The program includes two key instruments: budget support for medium-scale disasters and health emergencies (CDF), as well as disaster relief bonds (DRB), which provide necessary liquidity during major disasters.
The ADB's Director General for Central and West Asia, Lea Gutierrez, emphasized that this initiative will reduce the fiscal burden on countries and shift from a reactive approach to more proactive risk management. The program focuses on institutional strengthening and improving governance, as well as implementing strategic reforms in risk management.
This project was developed under ADB's technical assistance to enhance risk transfer mechanisms in Central Asian countries and Russia. The funding is provided through a grant from the Asian Development Fund amounting to $53.1 million and $3.3 million from the Asia-Pacific Climate Fund.
