ADB approves 2m grant for Pakistan to fight COVID-19
March 30, 2020 05:34 PM
Asian Development Bank (ADB) has immediately release $2 million grant support on Monday for Pakistan to fight the deadly respiratory virus COVID-19.
The grant will be given to Pakistan by the ADB’s Asia Pacific Disaster Response Fund.
ADB Country Director for Pakistan Xiaohong Yang said, “ADB recognizes the extraordinary burden of this pandemic on Pakistan and is committed to supporting Pakistan in the fight to control COVID-19.”
“This grant will help strengthen COVID-19 detection, improve infection prevention and control, and boost Pakistan’s capacity to respond to the pandemic,” he said.
According to ADB report, 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.
It is pertinent to mention that earlier ADB announced $50 million grant for Pakistan in an effort counter the coronavirus pandemic. According to the official statement by the body said that the grant would be exclusively given to the country’s National Disaster Management Authority (NDMA).