WB approves $200mn emergency aid for Pakistan to fight COVID-19

ISLAMABAD: The World Bank has approved $200 million emergency aid to Pakistan in the fight against the coronavirus pandemic, ARY News reported on Friday.

As per details, the World Bank has announced $160 billion emergency aid over 15 months to help various countries deal with the impact of the global coronavirus pandemic.

The Bank said in a statement that its board approved the first set of fast-track crisis projects with an initial 1.9 billion dollar going to 25 countries and operations moving forward in another 40 nations.

Talking to reporters in Washington, World Bank President David Malpass said our teams around the world remain focused on country-level and regional solutions to address the ongoing crisis.

Read More: ADB approves $2 mln to support combating novel coronavirus

India will be the largest beneficiary of the first wave of programs with a facility for one billion dollar, followed by Pakistan with 200 million dollar and Afghanistan with over 100 million dollar.

The Asian Development Bank (ADB) on March 30 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.”