ADB repurposes $50m to help Pakistan combat coronavirus

ISLAMABAD: The Asian Development Bank (ADB) on Thursday re-purposed $50 million from Pakistan’s National Disaster Risk Management Fund (NDRMF) to support the country’s preventive and response efforts to fight the coronavirus outbreak.

The funds, which form part of ADB’s series of support measures for Pakistan’s fight against COVID-19, will help to procure medical equipment and supplies to strengthen hospitals, diagnostic laboratories, isolation units, and other medical facilities in the country, said a press release issued by the ADB here on Thursday.

The funds include the reallocation of $30 million of previously approved but unutilized resources from ADB to NDRMF.

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Following a request for emergency support from Pakistan, ADB swiftly processed a change in scope in its NDRMF project, enabling the repurposing and immediate use of these resources in the fight against COVID-19.

In addition, NDRMF has provided $20 million using capital gains from its endowment fund, financed by the bank to support the government’s COVID-19 response. These funds complement the financing approved on April 2 by the World Bank under its Pandemic Response Effectiveness Project.

“The outbreak of COVID-19 is a profound challenge for Pakistan and we are committed to providing flexible and timely support to help manage this crisis,” said ADB Country Director for Pakistan Xiaohong Yang. “This funding will immediately support Pakistan’s efforts to fight the pandemic and strengthen healthcare services for the poorest and most vulnerable groups — including the elderly, women, and children.”

Aside from the $50 million, ADB is also mobilizing existing technical assistance — capacity building of Disaster Risk Management Institutions — to provide training for at least 5,000 doctors, nurses, and technical staff working on the front lines in intensive care facilities.

The grant will also provide additional technical capacity to the government for planning and coordinating its COVID-19 response.

Last month, the lender approved $2.5 million in immediate response grant funding to help Pakistan purchase emergency medical supplies, personal protective equipment, diagnostic and laboratory supplies, and other equipment.

This consisted of $2 million from ADB’s Asia Pacific Disaster Response Fund, and $500,000 for procurement of supplies through UNICEF.