Philippines, Aug. 25 -- The Asian Development Bank (ADB) approved the first project under its region-wide crisis financing mechanism, giving Vanuatu faster access to financing after disasters and other major emergencies. The financing can be used to support families, deliver essential supplies and equipment, and repair damaged public services and infrastructure. The Vanuatu Rapid Response Contingent Project is the first approved under the Rapid Resource Reprogramming and Deployment Option (3RDO), ADB's region-wide crisis financing mechanism. It will allow Vanuatu to redirect part of its undisbursed ADB financing to emergency response and early recovery when a qualifying crisis occurs.Since 2006, Vanuatu has lost an average of $35.7 million ...