The Asian Development Bank has approved a $US15 million loan to strengthen disaster resiliance in Palau.
The Asian Development Bank (ADB) is an Asia regional development organization dedicated to reducing poverty in Asia and the Pacific. Photo: AFP/ Jay Directo
The money will go to a programme responsible for responding to cyclones, droughts and other major disasters.
The funds will be available for the next three years and can be used if a state of emergency is declared.
It is the first time the bank has provided disaster finance to Palau.
"Palau is regularly exposed to natural hazards such as typhoons and droughts which threaten lives and livelihoods," said ADB Principal Economist for the Pacific, Ananya Basu.
Since Palau joined the Asian Development Bank in 2003, it has received loans of nearly $US70 million, a grant of $US200,000 and six technical assistance projects worth $US3.8 million for Palau.
