Japan to support ADB response to COVID-19 challenges

Islamabad: In support of Asian Development Bank’s (ADB) efforts to combat COVID-19 effects, government of Japan would be providing emergency support of $150 million through the Japan Fund for Poverty Reduction (JFPR) and the Asia Pacific Disaster Response Fund (APDRF).

The Fund would help developing member countries (DMCs) strengthen their capacity to contain the spread of COVID-19, according to ADB press statement received here. It said the ADB has provided several targeted interventions to support its developing member countries (DMCs) in combating the effects of the COVID-19 pandemic from its early stages. “While ADB is collaborating with UN agencies and other development partners to provide rapid support to DMCs to quickly prepare for COVID-19, this funding from Japan will also help to strengthen country systems and ensure sustainability in the response to pandemics,” said DG of ADB’s Sustainable Development and Climate Change Department Woochong Um.

Following a $6.5 bn initial package, ADB announced on 13 April to triple the size of its response by adding $13.5 billion in resources to help its DMCs counter the severe macroeconomic and health impacts caused by COVID-19.