ADB approves $2 million to support Yagi response

"We strongly commend the extraordinary efforts of the government and people of Vietnam in responding to the damage caused by Typhoon Yagi," said Shantanu Chakraborty, ADB country director for Vietnam. "This grant will support wider government efforts to deliver immediate humanitarian relief. ADB is also committed to working with the government on post-disaster recovery in the affected provinces to build back better and improve resilience, which is critical in the face of accelerating natural hazards."

The grant is funded by the Asia-Pacific Disaster Response Fund, which aims to provide support to ADB’s developing member countries affected by major disasters triggered by natural hazards.

Typhoon Yagi, the strongest typhoon to hit Vietnam in decades, made landfall on the northern coast of the country on September 7. As of September 24, 337 people have been killed or reported missing and another 1,935 people injured, according to the Vietnam Disaster and Dyke Management Authority.

The typhoon and subsequent flooding and landslides caused widespread damage in 26 provinces, with an estimated 37 million people living in the affected areas. Initial economic loss across the northern part of Vietnam is estimated at $2.6 billion.

ADB has been working with other development partners to support the government’s response to the disaster, including assessing assistance needs in the affected northern provinces. ADB’s emergency assistance aims to help ensure that people living in disaster areas have access to basic medical and social services and resources to rebuild their lives and livelihoods and will continue to work closely with the government and other development partners to deliver humanitarian assistance in line with the UN's Resident Coordinator Disaster Response Plan.

Government resolution to support recovery after Typhoon Yagi The government issued Resolution No. 143/NQ-CP on September 17, outlining key tasks and solutions to urgently overcome the aftermath of Typhoon Yagi, which includes support policies for the tourism sector.

Vietnam Bank for Social Policies scales up support in aftermath of Typhoon Yagi Vietnam Bank for Social Policies (VBSP) has announced it will suspend interest payments for borrowers affected by Typhoon Yagi and the subsequent flooding until December 31.

Power ensured after Typhoon Yagi damagse The damage caused by Typhoon Yagi to supply chains and power supply has been revealed, with Vietnam Electricity having pledged to ensure recovery following Asia’s most powerful storm this year.