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Japan announces aid worth of $2 million for Pakistan to tackle coronavirus

Japan announces aid worth of $2 million for Pakistan to tackle coronavirus
April 1, 2020
ISLAMABAD (92 News) – Japan announced aid worth of $2 million for Pakistan to tackle novel coronavirus (COVID-19) pandemic. This was announced by Federal Minister for Economic Affairs Hammad Azhar thorugh its social media micro-blogging website twitter. The minister thanked the government of Japan for giving Pakistan a generous grant to help the fight against coronavirus pandemic. Hammad Azhar also stated that the grant valued at $2 million will be dessiminated to Pakistan via UNICEF and IOM. He further said that the government of Pakistan has thus far allocated a sum of Rs2.5 billion for healthcare initiatives in the wake of global coronavirus outbreak. “We are grateful to the Japanese government for providing $ 2 million in grant assistance through UNICEF and IOM to Pakistan for dealing with Covid-19. In addition they have allocated Rs 2.5 Billion from their existing unspent grant funds in Pakistan towards health projects,” the minister tweeted. Earlier, World Bank (WB) and Asian Development Bank (ADB) offered to financial help for Pakistan to fight against coronavirus outbreak. According to the details, the ADB will provide $350 million to Pakistan while WB also offered to give $188 million to Pakistan. However, the agreements between Pakistan and international financial institutions are expected soon. It is pertinent to mention here that Pakistan and the WB are in talks for up to $200 million (Rs32 billion) in loans to enhance the capacity of resources-deficient 270 public hospitals and laboratories to control the spread of deadly coronavirus contagion. Meanwhile, ADB to immediately release $50 million for Pakistan to fight against the deadly coronavirus pandemic. A total of $35 million will be disseminated to Pakistan in regular tranches as it battles the fast-spreading COVID=19, coronavirus. The coronavirus (COVID-19) outbreak could cost Pakistan’s economy between $16.387 million to $4.95 billion, or 0.01 to 1.57 percent of the gross domestic product (GDP) in losses, said the Asian Development Bank (ADB) in a report published prior.