- March 30, 2020
- Posted by: Marvin Garcia
- Categories: ADFIAP News, Members News
MANILA, PHILIPPINES (18 March 2020) — The Asian Development Bank (ADB) today announced a $6.5 billion initial package to address the immediate needs of its developing member countries (DMCs) as they respond to the novel coronavirus (COVID-19) pandemic.
The initial package includes approximately $3.6 billion in sovereign operations for a range of responses to the health and economic consequences of the pandemic, and $1.6 billion in nonsovereign operations for micro, small, and medium-sized enterprises, domestic and regional trade, and firms directly impacted. ADB will also mobilize about $1 billion in concessional resources through reallocations from ongoing projects and assessing possible needs for contingencies. ADB will make available $40 million in technical assistance and quick-disbursing grants.
Source: Asian Development Bank