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ADB Repurposes $50 Million from Pakistan's National Disaster Risk Management Fund to Help Combat COVID-19 Pandemic

04/09/2020 | 01:08am EDT

News Release | 9 April 2020

ISLAMABAD, PAKISTAN (9 April 2020) - The Asian Development Bank (ADB) has repurposed $50 million from Pakistan's National Disaster Risk Management Fund (NDRMF) to support the Government of Pakistan's preventive and response efforts to fight the outbreak of the novel coronavirus disease (COVID-19) in the country.

The funds, which form part of ADB's series of support for Pakistan's fight against COVID-19, will help to procure medical equipment and supplies to strengthen hospitals, diagnostic laboratories, isolation units, and other medical facilities in the country.

The funds include the allocation of $30 million of previously approved but not yet committed resources from ADB to NDRMF. Following a request for emergency support from the Government of Pakistan, ADB swiftly processed a change in scope in its NDRMF project, enabling the repurposing and immediate use of these resources in the fight against COVID-19. In addition, NDRMF has already provided $20 million using capital gains from its endowment fund financed by ADB to support the government's COVID-19 response. These funds complement the financing approved on 2 April by the World Bank under its Pandemic Response Effectiveness Project.

'The outbreak of COVID-19 is a profound challenge for Pakistan and we are committed to providing flexible and timely support to help manage this crisis,' said ADB Country Director for Pakistan Xiaohong Yang. 'This funding will immediately support Pakistan's efforts to fight the pandemic and strengthen health care services for the poorest and most vulnerable groups-including the elderly, women, and children.'

Aside from the $50 million, ADB is mobilizing existing technical assistance-Capacity Building of Institutions Handling Disasters-to provide training for at least 5,000 doctors, nurses, and technical staff working on the front lines in intensive care facilities. The grant will also provide additional technical capacity to the government for planning and coordinating its COVID-19 response.

Last month, ADB approved $2.5 million in immediate response grant funding to help Pakistan purchase emergency medical supplies, personal protective equipment, diagnostic and laboratory supplies, and other equipment. This consisted of $2 million from ADB's Asia Pacific Disaster Response Fund, and $500,000 for procurement of supplies through UNICEF.

NDRMF was established in 2016 in partnership with ADB to provide support for disaster risk reduction and to invest in early warning systems and disaster preparedness projects in Pakistan. ADB provided the initial financing through a $200 million loan while the Government of Australia contributed a $3.4 million grant. In 2018, the Swiss Agency for Development provided a $1.5 million grant and technical assistance to support NDRMF. In January 2020, an additional $5 million was committed to the fund by the Government of Norway.

On 18 March, ADB announced an initial package of approximately $6.5 billion to address the immediate needs of its developing member countries as they respond to the COVID-19 pandemic. ADB stands ready to provide further financial assistance and policy advice down the road whenever the situation warrants. Visit ADB's website to learn more about our ongoing response.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.


ADB - Asian Development Bank published this content on 09 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2020 05:07:19 UTC

© Publicnow 2020
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