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ADB announces $20 bn rescue package to help developing countries in Asia


Aizbah KhanWeb Editor

13th Apr, 2020. 05:47 pm
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ADB

Asian Development Bank (ADB) has announced $20 billion rescue package to assist developing countries of Asia in their fight against  coronavirus pandemic.

According to the details, ADB said “it is tripling the size of its rescue package in the region for their immediate responses to contain the spread of COVID-19.”

Earlier in March, Asian Development Bank has approved $2 million grant for Pakistan’s fight against the deadly outbreak of coronavirus COVID-19 in the country.

The grant, financed from the Asia Pacific Disaster Response Fund, will help fund the immediate purchase of emergency medical supplies, personal protective equipment, diagnostic and laboratory supplies, and other equipment.

ADB approves immediate release of $50 million for Pakistan

It supplements an initial $500,000 approved by ADB on 20 March which already deployed to support Pakistan’s procurement of emergency supplies through UNICEF.

Taken together, this $2.5 million in approved funding represents ADB’s immediate response for Pakistan, with further support to follow.

 

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