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ADB to support Bangladesh in tackling coronavirus outbreak challenges

Monday 23 March 2020 10:48 CET | News

The Asian Development Bank (ADB) has announced that it will support Bangladesh in tackling novel coronavirus (COVID-19) outbreak challenges.

 

ADB has initiated the process of quickly exploring the financing modality and other details in close coordination with the government and other stakeholders, bank officials have stated. The government of Bangladesh has requested ADB to provide assistance to help tackle challenges of a potential COVID-19 outbreak in the country.

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

ADB has recently announced USD 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 USD 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.


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Keywords: The Asian Development Bank, ADB, Bangladesh, COVID-19, coronavirus, financial aid, B2B payments, supply chain financing, banking, Governmental financial aid, Asia, APAC
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Bangladesh
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Banking & Fintech