Disaster Resilience Program (Phase 2) (ADB-50212-003)

Countries
  • Cook Islands
Where the impacts of the investment may be experienced.
Specific Location
Nation-wide
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 20, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Cook Islands
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 3, 2020

Disclosed by Bank Jun 15, 2020


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

Project Description

According to the bank's website, "The program will support policy actions in disaster risk management (DRM) and provide a source of contingent financing for timely disaster response and early recovery activities. The program is the second phase of the Disaster Resilience Program approved in December 2016 for Cook Islands to help manage the fiscal risk arising from disasters triggered by all types of natural hazards. The program is consistent with the objectives of the Asian Development Bank (ADB) Pacific Approach, 2016-2020 which serves as ADB's operational framework for the Pacific region and as the overall country partnership strategy for the 11 small Pacific countries, including the Cook Islands. The program is also in line with ADB's Strategy 2030, which specifically mentions strengthening ADB's developing member countries' financial preparedness for disaster response through policy-based contingent financing"

Investment Description

Contact Information

Responsible ADB Officer Uusimaa, Hanna K.
Responsible ADB Department Pacific Department
Responsible ADB Division PASP
Executing Agencies
Ministry of Finance & Economic Management
PO box 120 Cook Islands

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