Risk Layered Disaster Relief Finance Program (ADB-59154-001)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kyrgyzstan
  • Tajikistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 18, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Kyrgyzstan; Government of Tajikistan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 56.40 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 56.40 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 6, 2026

Disclosed by Bank Nov 18, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed Risk-Layered Disaster Relief Finance Program supports the Kyrgyz Republic and Tajikistan to improve institutional capacity for effective disaster risk financing (DRF), establish DRF instruments within a risk-layered approach, and reduce fiscal strain in the aftermath of disasters, including geophysical hazards, extreme weather hazard events, and health emergencies. The Program combines: (i) contingent disaster financing (CDF) a financing option under the Asian Development Bank (ADB) policy-based lending modality using grant financing to drive policy reforms, removing underlying barriers, and enabling ex ante quick-disbursing liquidity facilities for disasters of higher frequency but lower severity; and (ii) a grant to develop an innovative financing arrangement - a disaster relief bond (DRB), also known as a catastrophe bond, an insurance-linked security instrument that will be placed by ADB in international capital markets, to provide quick liquidity following lower frequency but higher severity earthquake and flood events.

Both the Kyrgyz Republic and Tajikistan face high disaster protection gaps in the region. They have limited ex-ante risk financing mechanisms, leaving more than 85% of the average annual losses (expected losses per year from disaster events, averaged over a long period) in Tajikistan and 50% of the average annual losses in the Kyrgyz Republic uncovered. In both countries, post-disaster expenditures are mostly funded through the state budget, which is insufficient to cover losses from severe disaster events and results in significant contingent fiscal liability for both governments. Two constraints dominate: (i) lack of risk-layered disaster risk financing; and (ii) limited institutional capacity for disaster risk management.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

According to the project's Concept Note, the proposed safeguard categorization for environment, involuntary resettlement, and Indigenous Peoples is C.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For the Recipient:

Ministry of Finance
58 Erkindik Boulevard
Bishkek 720040
Kyrgyz Republic
Facsimile Number: (996) 312 661645

 For ADB:

Asian Development Bank
6 ADB Avenue
Mandaluyong City
1550 Metro Manila
Philippines
Facsimile Numbers: (632) 8636-2444

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works