Home Banking $250 million support for Nepal’s Covid-19 response sanctioned by ADB

$250 million support for Nepal’s Covid-19 response sanctioned by ADB

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(G.N.S) Dt. 27

Manila

A 250 million dollar concessional loan to help the government of Nepal fund its response to the novel coronavirus disease (Covid-19) pandemic is sanctioned by Asian Development Bank (ADB).
This fund includes measures to strengthen the country’s public health systems and mitigate the adverse economic and social impacts of the pandemic, particularly on the poor.
“ADB is strongly committed to supporting Nepal at this crucial time. This concessional loan will enable the government to continue its containment measures, extend its social protection programme for the poor and vulnerable, and set the stage for an early economic recovery,” said ADB President Masatsugu Asakawa.
“The Covid-19 pandemic continues to be a serious public health issue and will significantly impact Nepal’s overall social and economic development. ADB will work closely with the government and other development partners to help ensure a coordinated and effective response,” he said in a statement.

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