Building a Sustainable Recovery from COVID-19 in Asia and the Pacific
Video | 26 April 2021
ADB is adapting to the changing circumstances in Asia and the Pacific, working together with its developing member countries to rebuild for a long-lasting recovery from the COVID-19 pandemic.
The COVID-19 pandemic has had a devastating impact on lives, well-being, and economies in Asia and the Pacific along with the rest of the world.
Since the beginning of the pandemic at the start of 2020, ADB has committed more than $17.5 billion to help its developing member countries address the impacts of COVID-19 and address vaccination needs, and has mobilized a further $12.5 billion in cofinancing from partners.
From the earliest stages, ADB offered technical assistance to address Asia and the Pacific’s most pressing needs, including medical equipment and supplies, improving laboratories, and training frontline workers.
To mitigate the immediate impact of the COVID-19 pandemic, ADB committed $10.2 billion to support governments’ countercyclical expenditure programs in 26 countries.
Some $501.7 million has been helping private companies provide medical equipment and essential services.
And ADB committed $3.2 billion for trade finance, supply chain finance, and microfinance programs.
ADB is also providing crucial knowledge to help countries better tackle the pandemic and shape a greener recovery.
This includes databases on policy measures, supply chains, and economic impacts.
As the world kickstarts a sustainable recovery from COVID-19, ADB is delivering comprehensive support to meet Asia and the Pacific’s vaccine needs.
Through a $9 billion Asia Pacific Vaccine Access Facility, or APVAX, announced in December 2020, ADB is providing funding for vaccine procurement, logistics, and distribution.
The initiative also supports important investments to build capacity in vaccine delivery, community outreach, and surveillance.
Throughout its COVID-19 response operations, ADB is working closely with partners including other international financial institutions, bilateral institutions, and the UN system.
ADB is adapting with agility to the region’s changing circumstances, working together with its developing member countries to rebuild for a long-lasting recovery.