Coronavirus: ADB approves immediate grant of $50 million for Pakistan

Asian Development Bank (ADB) to immediately release $50 million for Pakistan in an effort to fight and fend off the deadly coronavirus pandemic, ARY News reported on Wednesday.

An official statement by the global money lending body said that the grant will be exclusively given to the country’s National Disaster Management Authority (NDMA).

A total of $35 million will be disseminated to Pakistan in regular tranches as it battles the fast-spreading COVID=19, coronavirus.

The coronavirus (COVID-19) outbreak could cost Pakistan’s economy between $16.387 million to $4.95 billion, or 0.01 to 1.57 percent of the gross domestic product (GDP) in losses, said the Asian Development Bank (ADB) in a report published prior.

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.

Earlier in the day, the number of coronavirus cases increased up to 247 in Pakistan as Sindh reported nine new COVID-19 cases.

Advisor to Sindh Chief Minister on Law Murtaza Wahab while addressing a press conference in Karachi has said the province total of coronavirus patients has reached 181 in Sindh.

Out of 181 cases, 141 were those of pilgrims returning to Sukkur from the Iran-Pakistan border at Taftan, said Murtaza Wahab, adding that 38 cases were reported from other cities of Sindh.