The Asian Development Bank (ADB) has issued its first Disaster Relief Bond (DRB) offerings, also known as catastrophe bonds, with two transactions covering earthquake and extreme precipitation risks in Tajikistan and the Kyrgyz Republic.
The DRBs will provide rapid and targeted financial support to both countries following severe earthquake or flood events, based on predefined and independently verified parametric triggers.
Following a qualifying disaster, proceeds will be disbursed through national social protection systems to support affected populations, particularly the most vulnerable.
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