ADB President, Kazakhstan Minister of National Economy Discuss Support for COVID-19 Response
MANILA, PHILIPPINES (25 March 2020) — Asian Development Bank (ADB) President Masatsugu Asakawa and Kazakhstan’s Minister of National Economy Ruslan Dalenov today discussed how ADB can support Kazakhstan in its fight against the COVID-19 pandemic.
Mr. Asakawa commended the government on its measures to combat the pandemic, including its emergency response and the articulated package of extraordinary policy measures introduced by local authorities from 10 March.
“ADB is committed to supporting Kazakhstan in its fight against COVID-19 and to helping limit the impact of the pandemic on its citizens,” Mr. Asakawa stressed. “ADB’s assistance can include budget support, health sector support, and technical assistance to help maintain social cohesion and retrain the labor force toward sectors likely to emerge in the post-COVID-19 economy. ADB is also keen to revisit its portfolio and reallocate funds to better fit the government’s priority needs.”
In addition to the health and socioeconomic impacts of COVID-19, a significant drop in oil prices is compounding the situation in Kazakhstan, with implications for the country’s economic activity, including trade and jobs. Mr. Dalenov said Kazakhstan seeks ADB support to quickly source medical equipment, maintain employment levels, and diversify the economy to lessen dependence on commodities and promote sectors such as agriculture, information technology, and ecommerce.
On 18 March, ADB announced an initial package of approximately $6.5 billion to address the immediate needs of its developing member countries, including Kazakhstan, as they respond to the COVID-19 pandemic. ADB stands ready to provide further financial assistance and policy advice down the road 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.