World Bank, ADB give USD 588 million to Pakistan to fight coronavirus pandemic

Islamabad: The World Bank and the Asian Develo­pment Bank have committed to providing USD 588 million to Pakistan for its emergency response to fight the coronavirus and to address the socioeconomic impact of the pandemic, a media report said on Friday.

According to an official statement, the World Bank would provide USD 238 million and the Asian Develo­pment Bank (ADB) USD 350 million to Pakistan in support for the COVID-19 emergency response and to tackle the socio-economic disruption associated with it.

The announcement was made by the Planning Commission after a meeting with representatives of the two lending agencies on Pakistan's preparedness and response to fight COVID-19, the Dawn newspaper reported.

The meeting, presided over by Deputy Chairman of the Planning Commission Mohammad Jehanzeb Khan, was attended by World Bank Country Director Illango Patcha­muthu, ADB Country Director Xiaohong Yang, besides other officials and representatives of the ministries of economic affairs, finance and national health services.

The meeting also approved in principle a project concept "Pakistan National Emergency Preparedness and Response Plan for COVID-19".

The participants of the meeting agreed that not only they needed to enhance cooperation to jointly fight challenges but also work to demonstrate firm commitment for a multi-faceted cooperation in different fields, the report said.

Pakistan's coronavirus cases sharply rose to 453 on Thursday, a day after it reported its first two casualties due to COVID-19 pandemic that has claimed 9,800 lives and infected more than 232,650 people in 158 countries and territories.