ADB offers $350mn to Pakistan

ISLAMABAD: To execute urgent measures and control the local transmission of COVID-19 across Pakistan, the Asian Development Bank (ADB) has offered $350 million that will be utilised to contain potential cases through surveillance and early detection.

Additionally, a grant of $238 million has also been approved by the World Bank, raising the grand total to $588 million (Rs93 billion) to combat the Coronavirus pandemic.

Out of $350 million, $50 million stands ready to be released immediately by the ADB under the National Disaster Risk Management Fund (NDRMF).

The authorities have been advised to utilise the allotted funds to improve the health care system and facilities being provided to those impacted, trace and monitor the diagnosis of primary cases efficiently, and risk management of the pandemic to further control and prevent the spread of the disease through the implementation of the COVID-19 National Action Plan (NAP) across Pakistan.

To provide further assistance, ABD announced to reallocate surplus loan of $100 million by detracting around $30 million from the National Motorway (M-4 Gojra–Shorkot–Khanewal Section) project, $30 million from the Jamshoro Power Generation Project, $25 million from the Sindh Provincial Road Improvement Project, $10 million from the CAREC Corridor Development Investment Programme, and $5 million from Water Resources Development Project in FATA.