ADB approves 20 mln USD financing to boost Vanuatu’s fiscal, disaster resilience
Summary
The Asian Development Bank has approved a $20 million financing package to strengthen Vanuatu's fiscal sustainability and improve its capacity to respond to natural disasters and health emergencies.
Key Points
- Asian Development Bank approved $20 million financing for Vanuatu.
- The package includes a $10 million policy-based grant for fiscal reforms.
- Another $10 million is allocated for a multi-year contingent disaster financing facility.
- Cofinancing is provided by Australia, New Zealand, and the World Bank.
