ADB announces $6.5 billion package for member countries to tackle COVID-19

Manila-based Asian Development Bank recently announced an initial package of $6.5 billion (equivalent to ₹48,230 crore) to cater the immediate needs of its developing member countries in fighting the Covid-19 pandemic.

As per the announcement of the Development bank, out of the total package, $3.6 billion will be made available to governments for addressing health and economic consequences of the pandemic and $1.6 billion for micro, small and medium enterprises, domestic and regional trade.