COVID-19: ADB approves additional USD 2 mn grant for Pakistan
Tuesday March 31, 2020
Islamabad: The Asian Development Bank (ADB) recently allocated an additional USD 2 million in funds to assist the Pakistani government in its efforts to combat the novel coronavirus outbreak, a news source reported. As per the publication, the Asia Pacific Disaster Response Fund financed the monetary assistance, which will be used to buy Personal Protective Equipment (PPEs), medical supplies, laboratory supplies, and other necessary materials for dealing with the Covid-19 pandemic. Read: Sindh DCs get funds to ensure rations distribution amid coronavirus outbreak The present fund will supplement the earlier financial assistance of USD 500,000 that was approved on March 20, and released to support the country’s procurement of medical supplies through the United Nations International Children Education Fund (UNICEF). Read: Sindh govt to disburse PKR 600m in Zakat funds among registered families ADB Country Director for Pakistan Xiaohong Yang said that the ADB acknowledged the excessive burden of the novel coronavirus outbreak on Pakistan. He added that the ADB would support Pakistan by strengthening its resources to detect the virus, boost control and prevention, and provide the necessary equipment to fight against the Covid-19 pandemic. Read: Sindh establishes Coronavirus Emergency Fund Account Moreover, Pakistan has procured an additional USD 4 billion financial assistance through aid agencies and multilateral lending to support its foreign exchange reserves and budgetary support. In the USD 4 billion assistance, the ADB will provide USD 350 million on an emergency basis, and the Pakistani government has requested an additional USD 900 million assistance by June to meet its projected needs.
