ADB Plans Over $300 Million to Support Tajikistan’s Development in 2019–2021


DUSHANBE, TAJIKISTAN (4 December 2018) — The Asian Development Bank’s (ADB) updated 2019–2021 country program for Tajikistan focuses on supporting road and energy development, private sector development, education and healthcare improvement, food security, and municipal infrastructure.

The indicative financial assistance for the 3-year Country Operations Business Plan (COBP) released recently is over $300 million, all in grants. The final amount will, however, depend on the country’s performance and availability of ADB funds.

АБР планирует предоставить свыше $300 миллионов для поддержки развития Таджикистана в 2019-2021 годах


ДУШАНБЕ, ТАДЖИКИСТАН (4 декабря 2018) — Обновленная программа Азиатского банка развития (АБР) в Таджикистане на 2019-2021 годы направлена на поддержку развития автомобильных дорог и энергетики, частного сектора, образования, здравоохранения, продовольственной безопасности и муниципальной инфраструктуры.

Индикативная финансовая помощь в рамках 3-годичного операционного бизнес плана, одобренного недавно, составляет свыше 300 миллионов долларов США, все на грантовой основе. Однако окончательный размер будет зависеть от достижений страны и наличия средств АБР.

АБР поддерживает усилия Кыргызской Республики по борьбе с изменением климата


Бишкек, Кыргызская Республика (28 ноября 2018 года) — Азиатский банк развития (АБР) утвердил 38,6 млн. долл. США для финансирования модернизации ирригационных систем, повышения сельскохозяйственного производства и улучшения землепользования, укрепления управления рисками стихийных бедствий и улучшения сбора и анализа соответствующих данных в Кыргызской Республике.

Этот проект, включающий кредит в размере 21,8 млн. долл. США и грант в размере 16,8 млн. долл. США из Азиатского фонда развития АБР, сосредоточится на Ферганской долине в юго-западной части страны и бассейне реки Чу на севере, которые уязвимы к наводнениям, селям и засухам, что усугубляется изменением климата. Софинансирование Правительства Кыргызской Республики составит 5 млн. долл. США.

ADB Supports Kyrgyz Republic’s Efforts to Combat Climate Change


BISHKEK, KYRGYZ REPUBLIC (28 November 2018) — The Asian Development Bank (ADB) has approved $38.6 million in development financing to help modernize irrigation systems, improve agriculture and land management, strengthen disaster risk management, and enhance data collection and analysis in the Kyrgyz Republic.

The project, comprising a $21.8 million loan and a $16.8 million grant from the Asian Development Fund, will focus on the Ferghana Valley in the southwestern part of the country and the Chui River Basin in the north, both of which are vulnerable to flooding, mudflows, and drought exacerbated by climate change. The Government of the Kyrgyz Republic will contribute $5 million to the project.

Bridging the natural catastrophe protection gap with taxes and insurance


In a chain reaction of events, the destruction and disruption by natural calamities and disasters lead to financial hardships for households and businesses. And as governments shift their response to these hardships from rescuing lives, to providing relief, and restoring income generation opportunities for households and businesses, predictably they look to raising taxes to finance efforts.

After an earthquake in 2016, for example, Ecuador increased its value added tax (VAT) from 12% to 14% for one year and levied a one-off tax of 0.9% on people with wealth over $1 million and a one-time tax of 3% on business profits. This was in addition to access to $300 million in emergency funding from the Ministry of Finance and a contingency credit line worth more than $600 million from multilateral lenders. And after the 2011 Tohoku earthquake, Japan introduced a 2.1% temporary surtax on income for 25 years (2013–2037) to finance reconstruction.

ADB hires Kessler from Swiss Re for disaster risk insurance role


The Asian Development Bank (ADB), a financial institution that supports economic growth and cooperation in the Asia-Pacific region, has hired Thomas Kessler, a long-time Swiss Re executive, into a newly created role focused on disaster risk insurance and financing.

Thomas Kessler has been hired by the Asian Development Bank (ADB) to the role of Principal Disaster Risk Insurance & Finance Specialist.

Kessler originally joined global reinsurance firm Swiss Re in 1994 and worked across a number of regions, including Japan, New York and Zurich. Then between 2012 and 2015 Kessler was seconded to become the Deputy CEO of Vietnam National Reinsurance Corporation, before then returning to Swiss Re and taking a Head of South East & East Asia Global Partnerships role at the firm.