ADB, Pakistan signed a $ 5.28 Million grant to strengthen Pakistan’s Covid-19 response – Business | Instant News


Last updated when June 5, 2020 19:14

ADB, Pakistan signed a $ 5.28 Million grant to strengthen Pakistan’s Covid-19 response

ISLAMABAD (Dunya News) – The Asian Development Bank (ADB) and the Government of Pakistan today signed an agreement to expand support for Pakistan’s response to the novel coronavirus (COVID-19) pandemic in Khyber Pakhtunkhwa province through the National Disaster Risk Management Fund (NDRMF).

Pakistan Economic Affairs Division Secretary Noor Ahmed and ADB Country Director for Pakistan Xiaohong Yang signed the agreement. After the signing ceremony, ADB Country Director Xiaohong Yang met with Chargé d’airair from the Royal Norwegian Embassy in Islamabad Sigbjørn Tenfjord to discuss the project.

Under the agreement, the Norwegian Government will provide a $ 5.28 million grant to strengthen the emergency response system in Khyber Pakhtunkhwa province in the midst of the COVID-19 crisis. Grants are taken from unused resources from the Pakistan Earthquake Fund and will be managed by ADB. “This grant will help provide emergency response services, provide equipment and supplies needed for the poor in the remote Khyber Pakhtunkhwa area,” Yang said. “This reflects the partnership and lasting commitment of the Norwegian government and ADB to support disaster risk reduction in Pakistan.”

In May, ADB reallocated $ 30 million from the National Disaster Risk Management Project to support the Pakistan pandemic response and the NDRMF Board of Directors allocated an additional $ 20 million in interest from the Endowment Fund capitalized in the project.

Norway has provided significant financial and technical support to Pakistan, including in good governance, education, health, and emergency assistance. Norway is working with ADB and other partners to help Pakistan quickly rebuild and recover from the 2005 earthquake. After the massive floods that devastated much of Pakistan in 2010 and 2011, Norway provided more than $ 56.4 million in assistance to affected families. flood and to restore basic services.

ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and Pacific, while maintaining its efforts to eradicate extreme poverty. Founded in 1966, it is owned by 68 members – 49 from the region.

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