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Asian Development Bank approves $24 million disaster financing


Philippines-based Asian Development Bank has approved catastrophe-triggered contingent disaster financing of $24 million for the Federated States of Micronesia, the Marshall Islands, the Solomon Islands and Tonga, Artemis reports. The financing forms a part of the second phase of the Pacific Disaster Resilience Program, and will help strengthen and boost disaster resilience efforts for the Pacific islands.

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