Philippines, Jan. 29 -- The Asian Development Bank (ADB) has approved a $500 million policy-based loan to provide the Philippines with quick access to financing in case of disasters triggered by natural hazards or health-related emergencies. The financing will support reforms to raise resilience and enable timely response and recovery efforts, thus minimizing the impact of disasters on the economy and Filipinos' lives and livelihoods.The Second Disaster Resilience Improvement Program is a multiyear contingent disaster financing program with an option to replenish the facility twice, upon approval by the ADB Board. Loan renewals are allowed if there will be unutilized amounts after the initial 5-year period. The Philippines ranked as the hig...