Advertisement

China provides $10 million to support Asian Development Bank

china
Advertisement

The Government of the People’s Republic China (PRC) has earmarked a total amount of $10 million in its Poverty Reduction and Regional Cooperation Fund to support the Asian Development Bank (ADB) in assisting its developing member countries (DMCs) to address their novel coronavirus disease (COVID-19) challenges.

The funds will provide support to a broad range of operations, including not only the purchase of medical supplies and equipment but also health sector reforms and development, as well as capacity building, training, and knowledge sharing.

“As ADB continues to formulate a quick and flexible set of financing commitments to its DMCs, this funding support from the PRC government will further help countries in implementing their pandemic responses,” said Director General of ADB’s Sustainable Development and Climate Change Department Woochong Um. “It will also help promote better coordination regionally to prevent and respond to disease outbreaks.”

Some $8 million was added to the $2 million approved by the PRC government on 8 April to help in the procurement of needed medical supplies as well as in capacity building for medical staff in DMCs, and development and dissemination of region wide risk communication materials to address public fears over the COVID-19 pandemic.

Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Live News.


Advertisement
End of Story
BOL Stories of the day
PM Shehbaz to visit Saudi Arabia to attend WEF special meeting in Riyadh
France warns of new sanctions against West Bank settlers
France President Macron criticizes 'Ineffective' UK Rwanda deportation law
Chinese parent company declares TikTok will not be sold to US entities
Sweden's Prime Minister announces NATO troop deployment to Latvia next year
UK police make fourth arrest in response to migrant deaths off France's coast
Next Article
Exit mobile version