New Delhi: The Asian Development Bank (ADB) provided a $5 million grant to Vanuatu to support emergency relief efforts following the catastrophic earthquake that rocked the archipelago last week. The 7.3-magnitude earthquake struck the capital, Port Vila, causing widespread damage to infrastructure, including reservoirs, power lines, commercial buildings, embassies, and a hospital. Fourteen people were declared dead, a state of emergency and curfew are in place, a press release noted.
The grant comes from ADB’s Pacific Disaster Resilience Program. The program, now in its fifth phase, aims to bolster disaster risk management and preparedness in Pacific nations, enabling them to access swift financial assistance during emergencies. The funds will be directed towards the Vanuatu government’s emergency response efforts.
ADB Pacific Liaison and Coordination Office Regional Director, Shane Rosenthal, emphasized the crucial role of rapid financial aid in disaster response. “In times of disaster, fast-disbursing finance is critical to help the government quickly respond to the crisis, deliver emergency relief to those in need, and support the people of Vanuatu,” he stated.
The Pacific Disaster Resilience Program is funded through a $20 million concessional loan from ADB’s ordinary capital resources and a $21 million grant from the Asian Development Fund (ADF), specifically designed to aid ADB’s poorest and most vulnerable developing member countries. The program not only provides immediate financial relief but also supports policy reforms for strengthening disaster resilience.