19.03.20
The Asian Development Bank (ADB) announced yesterday an initial aid package of $6.5 billion to meet the urgent needs of developing member countries, including Tajikistan in response to the new coronavirus (COVID-19) pandemic, the Tajik Telegraph Agency (Tajikta) reported on Thursday.
"ADB President Masatsugu Asakawa stressed that "ADB is ready to provide further financial assistance and policy advice when the situation requires it, in addition to the $6.5 billion package, " reports the ADB representative office in Tajikistan.
The initial package includes about $3.6 billion in sovereign operations for a range of responses to the effects of the pandemic on health and the economy, and $1.6 billion in non-sovereign operations for micro, small and medium-sized enterprises, domestic and regional trade, and firms that are directly affected. The ADB will also raise about $1 billion in concessional resources by reallocating funds from ongoing projects and unforeseen expenses. ADB will provide $40 million in technical assistance and quick disbursement grants.
In order to provide the support package to countries as quickly and flexibly as possible, ADB will adjust its financing tools and business processes. Subject to approval by the ADB Board of Directors, this will include faster access to emergency budget support for countries facing severe financial constraints, streamlined policy-based lending procedures, and universal procurement with flexible and fast processes.
Since its first aid delivery at COVID-19 on February 7, 2020, ADB has already allocated more than $225 million to meet the urgent needs of both governments and the private sector in countries.
Recall that on March 13, 2020: $100 thousand was reallocated within the framework of the project of integrated maternal and child health in Tajikistan to finance measures to prevent and reduce the impact of COVID-19, and to purchase medical goods and equipment;
The Asian development Bank has been cooperating with Tajikistan since 1998. ADB has established close coordination with the government of Tajikistan and multilateral and bilateral development partners within the framework of the Joint partnership strategy with the country and the development coordinating Council.
ADB participates in the development of regional energy policies and projects on regional energy trade; in the rehabilitation of regional transport corridors and trade development under the Central Asian regional economic cooperation (CAREC) Program.
