MANILA, Nov. 18 (Xinhua) -- The Asian Development Bank (ADB) on Tuesday said it has approved a 56.4-million-U.S.-dollar program to strengthen the disaster-response capacity of Kyrgyzstan and Tajikistan, two countries highly vulnerable to earthquakes, floods, and other natural hazards.

The ADB said both countries face frequent disasters but lack the fiscal buffers and risk-transfer mechanisms needed for a fast, effective response.

According to the bank, the new Risk-Layered Disaster Relief Finance Program is designed to bolster their financial preparedness by combining two pre-arranged disaster-financing tools that activate at different levels of severity.

Funding will come from a 53.1-million-dollar grant under the Asian Development Fund (ADF), which supports the poorest and most vulnerable countries in Asia and the Pacific, and 3.3 million dollars in cofinancing from the Asia-Pacific Climate Finance Fund.

Under the program, Contingent Disaster Financing will provide budgetary support after medium-severity natural hazards and health emergencies.

For major disasters, a Disaster Relief Bond, a catastrophe bond issued in international markets, will supply quick liquidity to help governments respond rapidly.

The initiative also prioritizes policy reforms, capacity building, and stronger governance systems to support more coordinated, transparent, and effective disaster risk management.

The program was developed with support from ADB's technical assistance for creating a disaster risk transfer facility under the Central Asia Regional Economic Cooperation Program, a partnership that promotes sustainable development and economic growth across the region.

ADF resources have helped 384,000 people escape poverty and generated about 500,000 jobs from 2021 to 2024, the ADB said. ■