ADB is committed to assist Bangladesh in this difficult time

‘The Bangladesh government has requested ADB to provide assistance to help tackle challenges of a potential Covid-19 outbreak in the country’

The Asian Development Bank (ADB) would support Bangladesh in tackling novel coronavirus (Covid-19) outbreak challenges, said Manmohan Parkash, ADB Country Director for Bangladesh.

Parkash told this to reporters after speaking with Finance Minister AHM Mustafa Kamal in the capital on Saturday.

The discussions included the government’s preparedness for mitigating any potential outbreak, its economic impact, and possible ADB support following a government request for assistance.

“The Bangladesh government has requested ADB to provide assistance to help tackle challenges of a potential Covid-19 outbreak in the country,” said the ADB country director.

“As a long-standing development partner, ADB is committed to assist Bangladesh in this difficult time. We initiated the process of quickly exploring the financing modality and other details in close coordination with the Government and other stakeholders,” he added.

The global public health emergency, which has been characterized by the World Health Organization as a pandemic, calls for urgent measures to respond to the disease as well as tackling its economic fallouts.

ADB has recently announced $6.5 billion initial package to address the immediate needs of its developing member countries as they respond to the Covid-19 pandemic.

ADB’s previous responses to Covid-19 include $200 million made available through ADB’s Supply Chain Finance Program for companies manufacturing and distributing medicines and other items needed to combat the pandemic.

ADB’s response to date also includes $2 million announced on February 7 to enhance detection, prevention, and response in China and the Greater Mekong Subregion, while another $2 million was announced on February 26 to support response in all its developing members.

Another CNY130 million ($18.6 million) private sector loan was signed on February 25 with Wuhan, China-based pharmaceutical distributor Jointown Pharmaceutical Group Co. Ltd to support the continued supply of essential medicines and personal protective equipment.

Another grant of $600,000 was provided to Sri Lanka on 13 March.