ADB allocates $44 million in technical assistance for pandemic

MANILA, Philippines — The Asian Development Bank (ADB) has allocated $44 million in technical assistance resources to support its developing member countries in their response to the coronavirus disease 2019 or COVID-19 pandemic.

The Manila-based multilateral bank said the funds would be available to all ADB developing member countries that wish to strengthen their response to the spread of the outbreak. 

The fund may cover the procurement of emergency supplies and equipment and assess the condition of the health system and impact of the pandemic to the economy to improve resilience in the future. 

Countries may also improve regional coordination for the detection and prevention of outbreaks of animal and human diseases. 

Also to be supported are efforts to develop long-lasting health security projects that will address the spread of communicable diseases. 

These resources will be drawn from various funds: $40 million from ADB’s technical assistance special fund, $2 million from the People’s Republic of China (PRC) poverty reduction and regional cooperation fund, and $2 million from the Republic of Korea e-Asia and knowledge partnership fund.

“This joint effort by the PRC, South Korea and ADB will provide timely assistance to meet urgent needs and help governments prepare for future outbreaks,” said Woochong Um, director general of ADB’s Sustainable Development and Climate Change Department. 

“Both the PRC and South Korea have extensive practical experience in managing this pandemic that will be valuable to share with others in Asia and the Pacific.”

Last month, ADB announced an initial package of $6.5 billion to address the immediate needs of its developing member countries as they respond to the COVID-19 pandemic. 

The bank said it stands ready to provide further assistance and policy advice when needed.