ADB Allocates $44 Million to Assist Countries Containing COVID-19
MANILA, PHILIPPINES (8 April 2020) — The Asian Development Bank (ADB) today allocated $44 million in technical assistance resources to support its developing member countries in their response to the novel coronavirus disease (COVID-19) pandemic.
The funds will be available for all ADB developing member countries in updating and implementing their pandemic response plans, including buying emergency supplies and equipment; assessing health system and economic impacts to improve future resilience; improving regional coordination to prevent, detect, and respond to animal and human disease outbreaks; and developing sovereign and nonsovereign health security projects to build long-lasting systems to address communicable diseases.
The funds comprise $40 million from ADB’s Technical Assistance Special Fund, $2 million from the People’s Republic of China (PRC) Poverty Reduction and Regional Cooperation Fund, and $2 million from the Republic of Korea e-Asia and Knowledge Partnership Fund. They will be added to a technical assistance program approved on 25 February 2020, Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases.
“This joint effort by the PRC, the Republic of Korea, and ADB will provide timely assistance to meet urgent needs and help governments prepare for future outbreaks,” said Director General of ADB’s Sustainable Development and Climate Change Department Woochong Um. “Both the PRC and the Republic of Korea have extensive practical experience in managing this pandemic that will be valuable to share with others in Asia and the Pacific.”
On 18 March, ADB announced an initial package of approximately $6.5 billion to address the immediate needs of its developing member countries as they respond to the COVID-19 pandemic. ADB stands ready to provide further financial assistance and policy advice whenever the situation warrants. Visit ADB’s website to learn more about our ongoing response.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.