BEIJING: The Asian Development Bank (ADB) on Monday tripled the size of its response to the novel coronavirus disease (Covid-19) pandemic to $20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance.
The package expands ADB’s $6.5 billion initial response announced on March 18, adding $13.5bn in resources to help ADB’s developing member countries counter the severe macroeconomic and health impacts caused by Covid-19.
The $20bn package includes about $2.5bn in concessional and grant resources, according to a news release issued here.
Up to $13bn will be provided through this new option to help governments implement effective countercyclical expenditure programmes.
Published in Dawn, April 14th, 2020