The Asian Development Bank has approved contingent disaster financing facilities worth five hundred million dollars under its policy-based lending to help Pakistan withstand and respond to disasters.

According to a news release issued today, ADB Country Director for Pakistan Emma Fan said the program also strengthens Pakistan's disaster risk financing framework and improves the availability of financing following disaster events.

She said the program will support the country in implementing critical reforms to ensure a more resilient future.

The program is aligned with Pakistan's priorities for managing disaster risks and with ADB's commitment to supporting resilience initiatives across Asia and the Pacific.