ADB approves grant of $2 million for Pakistan to fight COVID-19

ISLAMABAD: The Asian Development Bank (ADB) on Monday further approved a $2 million grant for Pakistan to combat the coronavirus (COVID-19) pandemic in the country.

According to a press release, the grant will help the immediate purchase of emergency medical supplies, personal protective equipment, diagnostic and laboratory supplies, and other equipment.

This $2.5 million in approved funding represents ADB’s immediate response for Pakistan, with further support to follow, an ADB press release said.

“Asian Development Bank recognizes the extraordinary burden of this pandemic on Pakistan and is committed to supporting Pakistan in the fight to control COVID-19”, said ADB Country Director for Pakistan Xiaohong Yang. “This grant will help strengthen COVID-19 detection, improve infection prevention and control, and boost Pakistan’s capacity to respond to the pandemic.”

On 18th March, ADB announced an initial package of approximately $50 million for Pakistan in an effort to fight and fend off the deadly coronavirus pandemic.

The statement added that the ADB was committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

ADB released a study “COVID-19 Outbreak to Have Significant Economic Impact on Developing Asia” on March 6, where it mentioned several scenarios such as best case, moderate case, worse-case and the hypothetical worst-case to assess the impact of COVID-19 on various developing countries in Asia.