AfDB approves policy changes on disaster and emergency assistance
MANILA, PHILIPPINES (October 7, 2021) – The Asian Development Bank (AfDB) has approved policy changes to effectively support disaster and emergency risk management in its developing member countries (PMCs).
The Revised Disaster and Emergency Assistance Policy (RDEAP) and Revised Emergency Assistance Lending Policy (REALP) together replace the 2004 Disaster and Emergency Assistance Policy. The revised policies aim to improve resilience to disasters and emergencies and to provide SMDs with timely financial support immediately after a disaster or emergency.
âThe AfDB recognizes that resilience is a pillar of sustainable development,â said Charlotte Benson, Senior Disaster Risk Management Specialist in the AfDB’s Sustainable Development and Climate Change Department. “The revised policies will remove bottlenecks in providing support to our CMDs and ensure that they not only have access to funding in the aftermath of a disaster, but also have the capacity to mitigate disaster risk. ”
The RDEAP provides a revised comprehensive framework guiding AfDB’s engagement in disaster and emergency risk management. The policy aims to strengthen physical, ecological, financial and social resilience. It balances the focus on risk reduction, preparedness and response based on sound risk analysis and promotes integrated actions to improve climate and disaster resilience. The policy places greater emphasis on modalities for financing residual risks, supporting faster and more effective post-emergency support.
REALP will focus on the rapid approval of loans to help rebuild and restore economic, social and governance activities after disasters triggered by natural hazards, health emergencies, food insecurity, technological and industrial accidents and post-conflict situations. With the RDEAP, it aims to support the efforts of DMCs to strengthen their resilience to emergencies.
The AfDB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific, while continuing its efforts to eradicate extreme poverty. Founded in 1966, it is owned by 68 members including 49 from the region.