Economists are looking at impact that the virus could have on region's economies
Economists are looking at impact that the virus could have on region's economies

ADB approves $2 million in new funding to combat nCoV

ANI | Updated: Feb 07, 2020 12:51 IST

Manila [The Philippines], Feb 7 (ANI): The Asian Development Bank (ADB) on Friday approved two million dollars in new funding to support efforts to combat the spread of novel coronavirus (nCoV).
The funds will supplement ongoing regional technical assistance and strengthen response capacity in Cambodia, China, Laos, Myanmar, Thailand, and Vietnam.
The assistance will fund the development of recommendations for improved outbreak investigation and surveillance, including in rural areas, and the strengthening of health systems' resilience and capacity for epidemic response.
It will support the supply of diagnostic and laboratory equipment for rapid testing to help combat the outbreak.
"ADB has a track record of providing rapid and targeted support to our members in emergency situations," said ADB President Masatsugu Asakawa. "We stand ready to provide further assistance as required."
ADB is collaborating closely with World Health Organisation officials and other regional experts to identify areas for coordinated responses and possible further financial assistance to respond to the 2019-nCoV situation.
Additional technical assistance is under preparation to help other developing member countries improve key economic and health systems, including disease surveillance, provision of medical supplies, outbreak response plans, and regional cooperation.
Where needed, said ADB, support may include the procurement of medicines and medical equipment. Other activities may include economic and health system assessments to improve understanding of the economic impacts and the design of appropriate response measures.
ADB's economists are looking at the impact that the virus could have on the region's economies, including through channels such as tourism, consumption, trade and supply chains.