ADB grants Tk 34,000cr to fight pandemic...

Dhaka, Tuesday   27 October 2020

ADB grants Tk 34,000cr to fight pandemic

 News Desk

 Published: 05:39 PM, 18 September 2020   Updated: 07:16 PM, 18 September 2020

ADB grants Tk 34,000cr to fight pandemic

ADB grants Tk 34,000cr to fight pandemic

The Asian Development Bank (ADB) has approved an additional grant fund by 7 percent to $400 crore (Tk 34,000 crore) assistance to fight against COVID-19 and accelerate the economic development of Asian countries including Bangladesh.

This information was given in a press release sent from the Dhaka office of ADB, one of the development partners of Bangladesh.

The organization has agreed to reschedule more than 4 billion in grants for the four years term 2021-2024 which was $350 crore in 2017-2020 fiscal year. As a result, $500 million has been raised to address the Corona crisis.

ADB has so far committed about $11.2 billion in financial and technical assistance to fight the coronavirus pandemic. It has also mobilized about $7.2 billion in cofinancing.

"I deeply appreciate the support of donors for raising the Asian Development Fund (ADF)," said ADB President Masatsugu Asakawa. Even countries that have increased these grant funds are under pressure from health and economic crises due to the coronavirus. In the Corona Crisis, this grant fund will make a significant contribution to restoring an inclusive and sustainable development in the region's poorest and most vulnerable countries.