ADB approves 20 mln USD financing to boost Vanuatu's fiscal, disaster resilience
Summary
The Asian Development Bank has approved $20 million to strengthen Vanuatu's fiscal sustainability and disaster response capacity, supported by Australia, New Zealand, and the World Bank.
Key Points
- The Asian Development Bank approved a $20 million financing package for Vanuatu.
- $10 million is a policy-based grant for reforms in resource mobilization and public expenditure.
- $10 million funds a contingent disaster financing facility to ensure quick funding during emergencies.
- Australia, New Zealand, and the World Bank provide parallel cofinancing support.
