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ADB, Pakistan sign $5.28m grant to strengthen virus response

MM News Staff by MM News Staff
June 5, 2020
Reading Time: 1 min read
Pakistan economy has potential to bounce back despite hardships: ADB

Pakistan economy has potential to bounce back despite hardships: ADB

ISLAMABAD: The Asian Development Bank (ADB) and Pakistan’s government have signed an agreement today (Friday) to expand support for Pakistan’s response to the novel coronavirus in Khyber Pakhtunkhwa province through the National Disaster Risk Management Fund (NDRMF). 
According to a press release issued by the ADB, the Secretary of Pakistan’s Economic Affairs Division Noor Ahmed and ADB’s Country Director for Pakistan Xiaohong Yang signed the agreement.
“After the signing ceremony, Ms. Yang met with Chargé d’affaires of the Royal Norwegian Embassy in Islamabad Sigbjørn Tenfjord to discuss the project,” the statement added.
Under the agreement, the Government of Norway will provide a $5.28 million grant to strengthen the emergency response system in Khyber Pakhtunkhwa province amid the COVID-19 crisis.
In this regard, Ms. Yang said, “The grant will help provide emergency response services, procure necessary equipment and supplies to poor communities in Khyber Pakhtunkhwa’s remote areas.”
She further said, “This reflects the enduring partnership and commitment of the Norwegian government and ADB to supporting disaster risk reduction in Pakistan.”
Earlier In April, ADB reallocated $30 million from the National Disaster Risk Management Project to support Pakistan’s pandemic response and the NDRMF Board of Directors allocated an additional $20 million from earned interest from the Endowment Fund capitalized under the project. 
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