KARACHI: Police personnel arrest a shopkeeper who refused to shut down his shop at Light House Market on Wednesday in violation of the provincial government’s directive.—PPI
KARACHI: Police personnel arrest a shopkeeper who refused to shut down his shop at Light House Market on Wednesday in violation of the provincial government’s directive.—PPI

ISLAMABAD: The Asian Develo­pment Bank (ADB) and the World Bank on Wednesday committed to providing $588 million to Pakistan for its emergency response to fight coronavirus and cater to the socioeconomic impact of the pandemic.

This was announced by the Planning Commission after a meeting with country representatives of the two lending agencies on Pakistan’s preparedness and response to fight COVID-19.

The meeting, presided over by Deputy Chairman of the Planning Commission Mohammad Jehanzeb Khan, was attended by World Bank Country Director Illango Patcha­muthu, ADB Country Director Xiaohong Yang, besides Member Social Sector Dr Shabnum Sarfraz, Member Private Sector Asim Saeed, Director General Health Dr Safi and representatives of the ministries of economic affairs, finance and national health services.

Cooperation urged to jointly fight challenges

The meeting also approved in principle a project concept “Pakistan National Emergency Preparedness and Response Plan for COVID-19”.

According to an official statement, the World Bank would provide $238m and the ADB $350m to Pakistan in support for the COVID-19 emergency response and to address the socio-economic disruption associated with it.

The participants of the meeting agreed that not only they needed to enhance cooperation to jointly fight challenges but also work to demonstrate firm commitment for a multifaceted cooperation in different fields.

Published in Dawn, March 19th, 2020

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

GB’s lost hope

GB’s lost hope

Given the need for democratic and accountable governance in GB, the quest for a provisional province warrants immediate attention.

Editorial

Dangerous times
Updated 14 Feb, 2025

Dangerous times

Pakistan accounted for six journalist killings in 2024, of which three were deliberately murdered, according to the CPJ.
Difficult target
14 Feb, 2025

Difficult target

A ONE-two punch delivered by an unforeseen, sharp dip in inflation and an extremely slim base of taxpayers is...
Amazing show
14 Feb, 2025

Amazing show

PAKISTAN’S ability to turn it up at the flick of a switch remains uninhibited. The latest show came in...
Trump’s folly
Updated 13 Feb, 2025

Trump’s folly

This latest pronouncement only reinforces the fears of those who see the plan as a blueprint for ethnic cleansing.
Corruption ranking
13 Feb, 2025

Corruption ranking

IT comes as little surprise. Transparency International’s Corruption Perceptions Index for 2024, unveiled on...
Support from remittances
13 Feb, 2025

Support from remittances

EVEN though workers’ remittances dipped, albeit negligibly, in January on a month-over-month basis, the earnings...