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ADB assures USD 1.7 billion help to Pak to fight COVID-19

ANI | Updated: Apr 24, 2020 23:57 IST

Islamabad [Pakistan], April 24 (ANI): The Asian Development Bank (ADB) will give USD 1.7 billion dollars to Pakistan to help the nation in containing the coronavirus outbreak and to mitigate the economic impact of it.
According to Radio Pakistan, the announcement was made during a virtual meeting between ADB president Masatsugu Asakawa and Minister for Economic Affairs Khusro Bakhtiar.
The bank will provide 800 million dollars budget support by June. It will provide the next tranche of nine hundred million dollars by the end of this year.

Pakistan has so far reported 11,562 coronavirus cases and over 240 deaths. Punjab continues to remain as the worst affected province in the country with 4,851 cases.
The country on Friday extended the nationwide lockdown till May 9.
Earlier this month, the International Monetary Fund (IMF) approved USD 1.3 billion in emergency financing to Pakistan to address the economic impact of COVID-19.
The virus outbreak is having a significant impact on the Pakistani economy. A relief package worth PKR 1.2 trillion was announced by the authorities on March 24. (ANI)