The Asian Development Bank (ADB) on Monday announced that it has tripled its coronavirus disease 2019 (Covid-19) response package to $20 billion from the earlier $6.5 billion. In a statement, ADB said the additional $13.5 billion aims to help ADB’s ...
The Asian Development Bank on Monday announced that it has tripled its coronavirus disease 2019 response package to $20 billion from the earlier $6.5 billion.
“Our expanded and comprehensive package of assistance, made possible with the strong support of our board, will be delivered more quickly, flexibly and forcefully to the governments and the private sector in our developing member-countries to help them address the urgent challenges in tackling the pandemic and economic downturn,” Asakawa added.
ADB said enhanced microfinance loan and guarantee support and a facility to help liquidity-starved small and medium-sized enterprises, including those run by female entrepreneurs, will also be implemented alongside direct financing of companies responding to, or impacted by, Covid-19. ADB earlier estimated the global impact of the pandemic at between 2.3 and 4.8 percent of gross domestic product. Regional growth is forecast to decline from 5.2 percent last year to 2.2 percent this year.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ADB triples COVID-19 aid package to $20 Billion
Read more »
Celebrating the Resurrection: Easter Sunday amid COVID-19
Read more »
Stigma around COVID-19 similar to discrimination facing people with HIV, say doctors
Read more »
National task force bares ‘game changer’ in PH’s fight vs. COVID-19An
Read more »
Paranaque records 18 more COVID-19 casesThe number of individuals affected with coronavirus disease 2019 (COVID-19) in Paranaque City rose to 18 based on the record of the City Health Office from 184 last April 8 to 202 last April 10. The recorded deaths rose to 18. The City Health Office recorded increase of persons under monitoring (PUMs) to 733 and persons under investigation (PUIs) to 614.
Read more »
Covid-19 in Manila now at 305, death toll at 38 – The Manila TimesTHE number of coronavirus cases in the cities of Manila and Quezon continue to rise, officials said on Sunday. Manila reported 14 new cases of the coronavirus disease 2019 (Covid-19) on Saturday, bringing the total positive cases to 305. Quezon City had 764 cases. The Manila Health Department (MHD) said the death toll hit 38 […]
Read more »