Islamabad: The Asian Development Bank (ADB) on Tuesday approved a loan of USD 300 million in emergency assistance for Pakistan in its attempt to deal with the socioeconomic impact of the ongoing COVID-19 pandemic, a news source reported.
As per the publication, ADB Vice President (VP) Shixin Chen said that the COVID-19 pandemic was negatively impacting the economic and health sectors of Pakistan. He highlighted that the financing project would provide immediate assistance to the vulnerable segments of the society including the under privileged families and in turn strengthen the public health facilities of Pakistan. The funding, he said, would also facilitate the pandemic’s knowledge sharing among the Central Asia Regional Economic Cooperation Program’s (CAREC) region and Pakistan.
Reportedly, the funds will be utilised to purchase personal protective equipment (PPE) and medical supplies for healthcare facilities and the frontline medics. Additionally, the funds will also be used to improve and further upgrade health facilities, boost COVID-19 awareness in the peripheral areas, purchase emergency vehicles, and train additional medics. The ADB’s funding will also provide direct cash relief to the vulnerable women through the Ehsaas Emergency Cash Assistance Package.
Furthermore, the Government of Norway has also donated USD 5.28 million to assist Pakistan’s anti-COVID-19 response with the funds being managed by the ADB.
