ADB Continues Support for Asia and the Pacific’s Fight against COVID-19
Video | 18 September 2020
ADB has committed $11.2 billion in grants, technical assistance, loans, and private sector assistance to help its developing members as they address the devastating impacts of the COVID-19 pandemic. Here is a summary of progress so far.
COVID 19 has had a profound impact on lives, health, and economies across Asia and the Pacific.
By mid-September, we at ADB have already committed $11.2 billion to address the pandemic in our developing member countries, part of a $20 billion package announced in April.
$8.2 billion is helping support government budgets in 19 countries to mitigate the impacts of COVID-19, with a focus on boosting safety nets for the jobless and helping the poor and vulnerable groups, including women and children, while $1.2 billion is supporting other projects.
About $123 million is helping private companies supply medicines and essential services.
ADB also committed $1.6 billion for trade finance, supply chain finance, and microfinance programs.
Technical assistance of $95.5 million is being used by 41 countries to address their most urgent needs, including the procurement of personal protective equipment, and diagnostic and medical equipment.
Frontline health workers are also receiving training, while hospitals and laboratories are being strengthened.
Rapid grants of $50 million are addressing immediate humanitarian and health emergency expenses in 26 countries.
We are closely coordinating activities with partners including other international financial institutions, bilateral institutions, and the UN system.
Building on our extensive knowledge work, we have been delivering up-to-date assessments of the pandemic’s economic impact, providing policy advice and other resources to tackle many pressing development challenges.
In our home base of Manila, ADB’s management joined in to deliver critical food supplies to struggling households.
As circumstances evolve, we at ADB will continue to meet the needs of our developing members and work together to building back better for a long-lasting recovery.