Username Password
PINA
ADB provides $20 million loan to help Palau prepare for COVID-19 Threat
05:23 am GMT+12, 30/07/2020, Palau

The Asian Development Bank (ADB) has approved a US$20 million loan to help the Government of Palau prepare for the coronavirus disease (COVID-19) pandemic and respond to its impact on the economy.
 
“ADB’s support will play an important role in strengthening Palau’s health sector to ensure the country is fully prepared in the event of an outbreak of the pandemic,” said ADB President Masatsugu Asakawa. “At the same time, this support will help strengthen key areas of Palau’s economy that are under duress.”
 
While Palau remains free of COVID-19 as of 29 July, ADB’s Health Expenditure and Livelihoods Support Program will help the government upgrade the country’s health sector by financing the purchase of ventilators for Belau National Hospital, establishing a COVID-19 hotline for public inquiries, and funding overtime and hazard pay for frontline health workers.
 
The programme will also help finance the implementation of the government’s economic stimulus package, which includes the provision of concessional loans to local businesses; benefits for the unemployed and assistance finding temporary work in areas such as tourism, the environment, and elderly care; support for free pre-school and childcare for lower income families, which will particularly benefit women; and subsidies for utilities such as electricity and water.
 
The concessional loan is provided through the COVID-19 pandemic response option (CPRO) under ADB’s Countercyclical Support Facility. CPRO was established as part of ADB’s US$20 billion expanded assistance for developing member countries’ COVID-19 response, announced on 13 April.

This is ADB's second round of assistance for Palau to mitigate the effects of the pandemic following a US$15 million policy-based loan in April.

SOURCE: ADB/PACNEWS


News feature
There are no related media to this article.
Pacific Islands News Association
Who & What is PINA?
Membership
Member Countries
Media Freedom
Training
PINA Convention
Awards
Contact
Gallery
Forum
Events
Jobs
Classifieds
PACNEWS
Home
Regional
Feature
Business
Sports
Archives
Partners
Communications Initiative
International News Safety Institute (INSI)
UNDP PC
AusAID
NZAID
SPREP
ONOC
UNAIDS
Media Helping Media
Partners
PIFS
SPC
IFEX
UNESCO
AIBD
GFMD
SEAPA
WPFC
IFJ