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Lesson
The potential for success of any innovation cannot be established without taking risks.Taking the risk of an innovative program design that piloted the use of the policy-based lending (PBL) modality for contingent disaster financing (CDF)—for only the second time in ADB (following the Cook Islands’ Disaster Resilience Program) and the first time at the regional level—has led to significant success. It contributed to policy change and product innovation at ADB.

Project Number: 50028-001, 50028-002
Project Name: Pacific Disaster Resilience Program (Phases 1 and 2)
Report Date: