Asian Development Bank to Provide $50 Million To Pakistan To Combat Coronavirus

 Asian Development Bank to Provide $50 Million To Pakistan To Combat Coronavirus

Coronavirus pandemic has blown out in Pakistan and the only cure so far is Social Distancing. Schools, Colleges, Universities are Completely and Malls are Partially closed for three weeks. In this hour of Worldly Calamity, the underprivileged Countries are demanding Funds and Facilities to fight this Threat. Asian Development Bank to Provide $50 Million To Pakistan To Combat Coronavirus.

Dine-in Facilities in Restaurants are Seized and the only takeaways are permitted.  To Cope with the Distressing situation Pakistan needs Financial Assistance to war against a pandemic giant. Moreover, the province-wide break up of coronavirus cases is as follows:

  • Sindh: 172
  • Punjab: 26
  • Khyber Pakhtunkhwa: 16
  • Balochistan: 16
  • Islamabad Capital Territory: 4
  • Gilgit-Baltistan: 3

Globally, 162 countries have been affected, more than 7,000 people have died and more than 184,000 infested by the disease as it spreads hastily to new territories to hunt more lives.

The Asian Development Bank (ADB) has agreed to provide $50 million to Pakistan to fight against coronavirus. Pakistan will acquire indispensable medical equipment for early detection, emergency upkeep, and to administer respiratory diseases. According to the seeped facts and figures of the financial package, it will be given to the National Disaster Management Authority (NDMA) exclusively and will be used to halt the spread of the coronavirus.

Asian Development Bank to Provide $50 Million To Pakistan To Combat Coronavirus

ADB published a report erstwhile and it is stated that the coronavirus outbreak could cost Pakistan’s economy between $16.387 million to $4.95 billion, or 0.01 to 1.57 percent of the GDP in losses.

ADB To Provide $50 Million To Pakistan To Combat Coronavirus!

Pandemic Coronavirus has become a Global Catastrophe, Enquires Regulatory Action

Though, ADB President Masatsugu Asakawa said that the upheaval of the pandemic has become a crucial global crisis. It necessitates potent action at national, regional, and global levels.

“With our developing member countries, we are formulating an aggressive set of actions to combat the virus. It aims to protect the poor, the vulnerable, and wider populations across the region. And, to ensure economies will rebound as swiftly as possible. Based on a close dialogue with our members and peer institutions, we are deploying this $6.5 billion rescue package to meet the immediate needs of our members.”

“COVID-19 Outbreak to Have Significant Economic Impact on Developing Asia”..ADB study released on March 6

Furthermore, ADB published a study on March 6, named “COVID-19 Outbreak to Have Significant Economic Impact on Developing Asia”. It is about numerous situational cases from best to least and the hypothetical worst-case. It is to weigh the impact of COVID-19 on various unindustrialized countries in Asia.

In Quest of Financial Assistance from the World Bank

The financial institutions of the country have been in discussions with the World Bank. According to the spokesperson from the finance ministry

“Nothing of sorts has been finalized yet. However, speaking of which, previously, the World Bank had provided $787 Million to Pakistan for development projects. The World Bank has already established $12 billion funds on March 13 to provide financial assistance to countries affected by a coronavirus.”

The Criteria of The World Bank for Funding

Nevertheless, The World Bank will line up the poorest countries and those at high risk of disaster and poor capacity to deal with it. The spread of COVID-19 and its impact are continuing and crossing territories. The World Bank Group is presumed to acclimatize its approach and resources accordingly.

Moreover, as of Wednesday, Pakistan has recorded at least 243 cases of the highly transmissible coronavirus. Most trekkers are the transmittable source of the virus, who are returning home from neighboring Iran. It is the highest number of inveterate cases in South Asia compared with 147 in India, 44 in Sri Lanka, and 22 in Afghanistan.

Also Read: Pakistan Launches ‘Corona Chatbot’ to Address & Fight COVID-19 on National Level

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