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WB, ADB offer to financial help for Pakistan to fight against coronavirus

WB, ADB offer to financial help for Pakistan to fight against coronavirus
March 18, 2020
ISLAMABAD (92 News) – World Bank (WB) and Asian Development Bank (ADB) on Wednesday 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.