Thursday, 09 July 2020, 12:35:45 pm
Pakistan, ADB sign loan agreement of $300mn under Emergency Assistance for Fighting against COVID-19
June 05, 2020

Pakistan and Asian Development Bank have signed a loan agreement of 300 million US dollars and grant agreement of 5 million US dollar under Emergency Assistance for Fighting against COVID-19 Pandemic.

Secretary Economic Affairs Division Noor Ahmed and Country Director of ADB Xiaohong Yang signed the document in Islamabad today.

Under this financing agreement, public health emergency preparedness and response system will be strengthened. National Disaster Risk Management Fund will provide this financing to government agencies for procurement of medical supplies, personal protective equipment and emergency vehicles.

In addition, public health facilities including infrastructure, water, sanitation and hygiene and waste management system will be upgraded.

Under social protection component, an amount of 200 million US dollars is allocated for poor and vulnerable. Benazir Income Support Program will utilize this amount for additional cash transfers to BISP beneficiaries and Ehsaas Program.