ADB grants emergency loan worth $300mn to Pakistan

ISLAMABAD: To execute urgent measures and control the local transmission of COVID-19 across Pakistan, the Asian Development Bank (ADB) has announced to grant emergency financial assistance worth $300 million.

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The authorities have been advised to utilise the allotted funds to improve the health care system and facilities being provided to those impacted.

The issued grant will also be used for the purchase of personal protection equipment (PPEs) and upgradation of medical supplies to cater the hospitals and health workers.

By utilising the funds, the authorities will extend financial support to deserving segments of the society especially women affected by the COVID-19 under the government’s Ehsaas Emergency Cash Assistance Package.

Speaking on the occasion, ADB Vice President Shixn Chen said the financing assistance will help strengthen Pakistan’s public health capabilities, provide immediate support to vulnerable women and their families.

In addition, a grant worth $5.28 million was contributed by the government of Norway. This grant will be administered by the ADB.

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