ADB to Support Bangladesh in Tackling Coronavirus

The Asian Development Bank (ADB) will support Bangladesh in tackling the coronavirus outbreak, said Manmohan Parkash, ADB country director for Bangladesh.

Parkash held discussions with Bangladesh Finance Minister AHM Mustafa Kamal in Dhaka on the government's preparedness for mitigating any potential outbreak -- and its economic impact --according to a press statement by the ADB.

"The government of Bangladesh has requested ADB to provide assistance to help tackle the challenges of a COVID-19 outbreak in the country," said Parkash.

"As a long-standing development partner, ADB is committed to assist Bangladesh in this difficult time."

"We have initiated the process of quickly exploring the financing modality and other details in close coordination with the government and other stakeholders," he added.

The global public health emergency, which has been characterized by the World Health Organisation as a pandemic, calls for urgent measures to respond to the disease as well as tackling its economic fallout.

ADB has recently announced a $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 $200 million made available through ADB's Supply Chain Finance Programme for companies manufacturing and distributing medicines and other items needed to combat the pandemic.

ADB's response to date also includes $2 million announced on February 7 to enhance detection, prevention, and response in China and the Greater Mekong Subregion; another $2 million announced on February 26 to support response in all its developing members; and an $18.6 million private-sector loan, signed on February 25, to the Wuhan, PRC-based pharmaceutical distributor Jointown Pharmaceutical Group Co. Ltd. to support the continued supply of essential medicines and personal protective equipment. Another grant of $600,000 was provided to Sri Lanka on March 13.

ADB has a strong track record of responding rapidly to provide targeted support to Bangladesh in times of emergencies, including natural disasters like floods and cyclones and other situations like the influx of Rohingyas in Cox's Bazar camps from across the Myanmar border.