ADB’s $50 Million Package to Help the Kyrgyz Republic Mitigate the Impact of COVID-19
Video | 4 May 2020
- ADB has approved $50 million in loan and grant financing to help the Kyrgyz Republic mitigate the health and socioeconomic impact of COVID-19 pandemic.
- ADB's $50 million package for the Kyrgyz Republic will help address health sector needs amid the COVID-19 pandemic, protect vulnerable segments of society, support SMEs and the economy, and improve the country's resilience to shocks.
- ADB’s $50 million loan and grant financing is on top of an earlier $200,000 emergency assistance used to procure much-needed medical supplies amid the COVID-19 pandemic.
ADB has approved $50 million in loan and grant financing to help the Government of the Kyrgyz Republic mitigate the significant negative health, social, and economic impacts of COVID-19 pandemic.
Delivered under ADB’s COVID-19 Active Response and Expenditure Support (CARES) program, the funds will support the government’s immediate priorities to contain the spread of the pandemic, ensure social protection for vulnerable segments of society, and deliver a pro-poor fiscal stimulus to safeguard small and medium enterprises and the economy’s productive sectors.
In the Kyrgyz Republic, around 1.8 million people are estimated to be particularly vulnerable to the COVID-19 pandemic.
To help the government mitigate the pandemic, ADB has approved $50 million in loan and grant financing.
This will help:
- Address health sector needs
- Ensure social protection for vulnerable people
- Support SMEs and the economy
- And initiate reforms to improve resilience to shocks
The funds will benefit women who play a huge part in the affected sectors, and women-led households which make up 22% of the vulnerable population.
ADB earlier provided medical supplies to health workers on the frontline through a $200,000 emergency assistance administered through UNICEF.
ADB will continue to work with the Kyrgyz Republic to overcome the pandemic.