ADB's Response to COVID-19: on the Side of Our Developing Members in Their Time of Need

Video | 21 May 2020

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The Asian Development Bank is deploying an assistance package of $20 billion to help our developing members counter the severe impacts caused by the COVID-19 pandemic and address the urgent needs of the sick, the poor, and the vulnerable.

Transcript

From the very outset of the COVID-19 outbreak, we at the Asian Development Bank have been quick and flexible in our response to meet our members’ needs.

Our $20 billion assistance package for those worst affected is helping Asia and the Pacific save lives and ensure economies rebound as swiftly as possible.

We are delivering grants for emergency food programs and medical needs like personal protective equipment, test kits, and laboratories.

And we are providing our developing members much-needed budget support on affordable terms.

Our ongoing economic analysis is enabling policymakers to better plan for recovery.

By providing trade and supply chain finance, we are delivering crucial support for economic growth.

Wage support schemes for low-wage workers are helping smaller firms stay in business and prevent job losses.

Our cash transfer schemes and other social protection measures target poor and vulnerable groups and households, as well as women and girls.

Coordination with international financial institutions, the WHO and UN agencies, and development organizations helps ensure that we are effective and efficient.

And we remain committed to supporting our members on their path to sustainable development through projects and programs that go beyond the COVID-19 pandemic.

We are doing what we have always done throughout our history spanning over 50 years.

We are on the side of our developing members in their moment of need to help them pave the way for a better, brighter future.

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